Q1 2025 Real Estate Market Update
Colorado Springs Real Estate Quick Facts
- Mortgage rates improved about 1/4 point during the Quarter when compared to the SQLY
- Average active listings for the quarter were 1818 , compared to 1246 from the SQLY (up 45%)
- Total new listings for the quarter were 3206, compared to 2755 from the SQLY (up 16%)
- Sales for the quarter were 1977 units, compared to 1896 from the SQLY (up 4%)
- Average sales price for the Quarter was $552,813 up from $524,741 during the SQLY (up 5.3%)
- Average median sales price for the Quarter was $486,667 up from $460,800 (up 5.6%)
- Average days on market for sold homes was 65 for the quarter, up from 57 days from the SQLY
- Single family permits YTD were 766 compared to 655 from the SQLY (up 16%)
Market Summary
The first quarter of 2025, the Colorado Springs real estate market experienced notable changes compared to the same period in 2024. The average home sold price in 2025 was $552,813, reflecting a 5.3% increase from 2024. This rise was a bit surprising as the market was rather lackluster, but continued strong demand in the higher price ranges seems to have been the likely culprit.
Market dynamics are continuing to shift away from a seller’s market to a more balanced market thanks to an injection of nearly 2000 new listings coming on the market during the quarter. The slightly lower mortgage rates are attracting more first time home buyers as well as those in the under $500,000 prices range. The average number of homes on the market during the first quarter was about 1800, which was a jump of 45% and should help keep prices from increasing as much.
