May 2025 Real Estate Market Update
Colorado Springs Real Estate Quick Facts
- 30-year mortgage rates remain relatively flat at 6.89%
- 2,607 listings are on the market-this is up 45% from the same month last year (SMLY)
- New listings for the month were 1612 which is up just 12% from SMLY
- There were 949 sales for the month-which is up 3% from SMLY
- The list price/sales price ratio was 99.5%
- Average sales price for the month was flat $576,872—up .8% from SMLY
- Median sales price for the month was also flat at $503,000—up .4% from SMLY
- Median days on market for sold homes was 42 compared to 34 for the SMLY
- Single family permits YTD are at 1,291 which is down from the 1,462 units from the SMLY
Market Summary
While the stats suggest a relatively balanced market with a slight edge to sellers, the reality on the ground tells a different story. It feels a lot like the 2008–2009 market—when many properties were vacant, and showings were unusually quiet.
That said, there are still homes that buyers are jumping on—typically the ones that are priced competitively, show beautifully, and are in great locations. These are the properties getting multiple offers, and even selling above asking price sometimes.
Relying on online estimates for your home’s value can be risky. Many sites openly admit they are within 10% of the final sales price 95% of the time. For a $500,000 home, that’s a potential $50,000 difference—in either direction. If you overprice your home, it will sit on the market and eventually you will have to lower the price and as the days on market in-crease, your home’s value decreases. If you underprice your home, you stand to lose some of your valuable equity.
If you want to protect your equity and position your home to sell for top dollar, you need a pricing strategy based on real data and local expertise. That’s where an experienced agent with a proven track record makes all the difference.
