COLORADO SPRINGS“The statistics do not tell the entire story. We may show only a 1.1% drop in the median sales price for all properties, and a slight uptick in active properties, but the real
The TIde Has Changed Sellers-
Dated: September 14 2026
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“The statistics do not tell the entire story. We may show only a 1.1% drop in the median sales price for all properties, and a slight uptick in active properties, but the real grind comes when we get into the 7.1% drop in sales for all properties in the Pikes Peak Region. That result carries over into a lot of other areas of the economy where we are feeling real pressure.
“The housing market has become a ghost town with many homes getting little to no showings and then getting pulled from the market.
“Colorado Springs has made the news cycles with our housing economy. One X post by Jason Lewris stated that a staggering 16.8% of the listings now are below what the owner originally paid and more than 50% of all listings have seen price reductions. We’re seeing Colorado Springs become a rental market with rents delivering a more affordable option over buying. Pending sales nationwide fell 2.3% month over month in July which is the second lowest on record. Housing has an issue, and that issue is nationwide affordability.
“The craziest part of the Colorado Springs market is that we went from one of the hottest real estate markets in the nation to a market now experiencing 55.3% of our inventory going through price reductions and still not selling. Nationwide, homebuyer demand is at record lows. The housing market is showing signs of cracking. Either rates drop, or house prices continue to drop. I believe that housing takes a bow and buyers are on hold until it does. Sellers, price the house right or expect it to sit and not sell. It is no longer your market, and you need to be aware of that,” said Colorado Springs-area REALTOR® Patrick Muldoon.
Patrick Muldoon
I have many interests and hobbies to supplement my busy career in real estate. Although I enjoy my work I also enjoy finding free time to enjoy the most important things in life. This includes being w....
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