Colorado Springs’ housing market moved through three distinct phases from 2023 to 2025: a demand reset, a modest price push despite higher rates, and then a clear shift toward slower transactions and more negotiation. This recap uses the full monthly dataset for 2023–2025 to quantify what changed in supply, demand, pricing, leverage, and what those changes imply as we head into 2026.
New Listings
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2023: 13,754
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2024: 14,985 (YoY +9.0%)
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2025: 15,919 (YoY +6.2%)
Home Sales
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2023: 11,159
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2024: 10,970 (YoY -1.7%)
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2025: 11,074 (YoY +0.9%)
Median Sale Price
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2023: $445,000
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2024: $474,450 (YoY +6.6%)
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2025: $444,000 (YoY -6.4%)
Average Days to Sell
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2023: 38.7 days
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2024: 47.5 days (YoY +8.8 days)
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2025: 57.0 days (YoY +9.6 days)
Percentage of Original List Price Received
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2023: 98.80%
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2024: 98.82% (YoY +0.02 pp)
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2025: 97.91% (YoY -0.91 pp)
Average Active Listings
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2023: 2,442
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2024: 3,092 (YoY +26.6%)
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2025: 3,794 (YoY +22.7%)
Inventory rose sharply while sales stayed essentially flat. New listings increased every year (13,754 → 14,985 → 15,919), but annual sales were nearly unchanged across the three-year window (11,159 → 10,970 → 11,074). That combination matters: the market absorbed a growing flow of supply without a matching increase in completed demand.
The data shows leverage shifting through time-on-market and negotiation outcomes, not through a collapse in sales. Average days to sell increased from 38.7 (2023) to 47.5 (2024) to 57.0 (2025). At the same time, the percentage of original list price received held steady from 2023 to 2024, then dropped meaningfully in 2025 (98.80% → 98.82% → 97.91%). Across all 36 months, days-to-sell and price-to-original are strongly inversely related (correlation -0.73): when homes take longer to sell, sellers give up more from their original list price. That is negotiation leverage showing up in measurable outcomes.
2025 is the year where supply pressure became visible in pricing. Despite higher inventory in 2024, the year-end median sale price in the dataset still rose (Dec 2023 $445,000 to Dec 2024 $474,450). In 2025, the year-end median fell back to $444,000, alongside the largest jump in time-on-market and the largest decline in list-price retention. In plain terms: the market moved from “more listings, but sellers still holding pricing power” (2024) to “more listings, and pricing power deteriorating” (2025).
Seasonality is still present, but the market is less “spring-dominant” than a typical cycle. Each year’s lowest sales month was January, and the peak was late spring/early summer (May peak in 2023 and 2024; June peak in 2025). The seasonal pattern remains, but the magnitude of seasonal swings is not the whole story; the bigger structural change is the slower sale process and weaker list-price outcomes in 2025.
What this says about market balance heading into 2026: inventory and sale pace moved out of alignment. A simple way to see that with this dataset is the ratio of average active listings to average monthly sales (an inventory-to-absorption index using the provided “active listings” monthly values). That index rose from 2.63 (2023) to 3.38 (2024) to 4.11 (2025). Regardless of whether active listings are snapshots or averages, the year-over-year direction is consistent: more homes are competing for the same pool of buyers.
Buyer implications: buyers gained practical leverage in 2025. More choice, more time, and more pricing flexibility. The strongest evidence is the combination of longer days on market and lower close-to-original ratios.
Seller implications: sellers are no longer being rewarded for testing the top of the market. The dataset shows that as time-on-market rises, list-price concessions rise with it. In 2026, sellers who price precisely and present the home well from day one will be in a materially different position than sellers who rely on scarcity to create urgency.
