Colorado Springs, formerly one of the country’s most sought -after housing markets, undergoes a dramatic change.
Thousands of residents are now lists their homes – a lot of more than a million dollars – because residential and commercial real estate sectors are faced with reset.
“There is a cloud of uncertainty,” said Patrick Kerscher, director general of the Norwood Development Group, in The Gazette.
“We have double or more interest rates than they were three years ago, and they stayed there. You have elections. You have international conflicts.
The change is obvious in the figures. In March 2025, Colorado Springs had more than 7,100 lists of active houses, according to a report on the Realtor.com market.
The houses are now on the market for an average of 75 days, a significant increase compared to the frantic pace observed during the pandemic boom.
The median prize for registration has slightly increased from $ 458,000 in December 2024 to $ 474,000 in March 2025, but price reductions are becoming more and more common as inventories swell.
According to Fast Company, Colorado Springs is one of the country’s 58 metropolitan zones where housing stocks have increased, giving buyers more leverage than in the years.
Colorado Springs, formerly one of the country’s most sought -after housing markets, undergoes a dramatic change
Thousands of residents are now lists their homes – much more than a million dollars – such as residential and commercial real estate sectors are faced with reset. This house is on the market for nearly $ 1.4 million.
The change is obvious in the figures. In March 2025, Colorado Springs had more than 7,100 lists of active houses, according to a Realtor.com market report. This house is on the market for $ 800,000.
The report notes that the city’s housing supply is now 58% more than pre-countryic levels, which changes the balance in favor of buyers after years of tender wars.
“This is a completely different market from what it was two years ago,” said Ryan Teferilla, director of town planning of the city, in an interview with The Gazette.
“There is a feeling that we are leaving this fast expansion mode. We do not necessarily contract – but we no longer sprint either.
During the pandemic, a wave of buyers outside the state – in particular California and Texas – took place in Colorado Springs, pushing the prices of houses to record summits.
But with mortgage rates oscillating almost 7%, the market cools. The inhabitants, already struggling with affordability, take a step back.
“People are definitely more cautious,” said real estate agent Amy Williams to The Gazette. “Many sellers continue the prices of 2021, but buyers are simply no longer ready to pay too much. They know they have options.
Despite the slowdown, Realtor.com recently appointed Colorado Springs one of its 10 best housing markets for 2025, providing for a 27.1% increase in existing home sales for the year.
A key reason is the strong military population of the city – approximately one in three households includes a member of the veteran service or in active service.
The houses are now sitting on the market for an average of 75 days, a significant increase compared to the frantic pace observed during the pandemic boom
The median prize for registration has slightly increased from $ 458,000 in December 2024 to $ 474,000 in March 2025, but price reductions are becoming more and more common as inventories swell. This house is on the market for $ 1.2 million.
With many buyers counting on the VA and FHA loans, who offer more favorable conditions than conventional mortgages, demand remains somewhat isolated from the increase in rates.
“In many ways, Colorado Springs is still a very stable market,” said Williams. “We are not in a bubble that is about to burst. But we are in a period of recalibration.
The commercial sector notes similar caution. While new projects are underway, uncertainty has slowed down major decision -making.
“Whenever you are faced with a long -term decision, a long -term commitment, uncertainty creates inaction,” said Kerscher. “We are going to have lumps to resume next year.
Teferillary added that the city explored development developments as a means of reinventing older commercial spaces which no longer meet the needs of a post-paid-in-country workforce.
“We see more projects that combine housing, office and retail,” he told The Gazette. “The demand is always there – it’s just a form that changes.”
While the lists of houses are climbing and commercial tenants stop at commitments, Colorado Springs enters a new phase – always attractive, but is no longer safe from wider market forces.
“People still want to live here,” said Kerscher. “We do not lose this call. But when the cost of business and the cost of living continue to increase, people are starting to become selective.
