April 7, 2026

 

HARRY’S BI-WEEKLY UPDATE

         A Current Look at the Colorado Springs Residential real estate Market

As part of my “Special Brand of Customer Service”, it is my desire to share current Residential real estate issues that will help to make you a more successful and profitable Buyer and Seller.

 

 

NOT A LOT OF CHANGES IN THE LAST TWO WEEKS BUT…

…it’s especially important to look at the “big picture” when you’re thinking about Residential real estate.

Yes, rates are rising.  But—they remain below year-ago levels.  Even though rates are back above 6% after dipping below that mark a month ago, they are still lower than this time last year which is still offering some relief for buyers searching for greater affordability.

Volatility in mortgage rates is nothing new historically.  After trending down for well over a year, there was a recent rise.  (see below)

 

 

I understand why it’s easy to be distracted by the changes but after 53 years in local Residential real estate, I’ve seen far greater movement and considerably higher rates.  At a recent lunch with some other folks in the “business” it was mentioned that today’s rates are “low to normal” compared to the past.

It was also noted that unfortunately the “once in a lifetime” low rates of 4-5 years ago set a poor “mental baseline” that will likely never be seen again yet have stuck in the minds of potential buyers who did not or could not take advantage of them.

The best advice I can give anyone thinking about those totally unrealistic rates is this—while you are wishing for the unrealistically low rates to return, home prices are continuing to rise, and you are losing the ability to build personal wealth in the form of home equity each and every day you delay.

It's really that simple.  Rates in the 2%-3% range were historically low and unrealistic.  Period.  And waiting for their unlikely return is costing you more than you might imagine.

However, that’s not to say you must pay the published rates.  It’s important to know you can shop around for the best mortgage, and you can potentially save thousands of dollars by getting multiple quotes and looking at various types of mortgages.

There are several broad categories of mortgage loans, such as conventional, FHA, and VA loans. Rates can be significantly different depending on what type of loan you choose. 

Adjustable-rate loans are also making a significant comeback and worth consideration to keep your monthly payment lower when current rates are higher than you might like.

Other options are loan terms which are typically 15, 20 or 30-years.  Terms will also affect your interest rate, monthly payment and the total amount of interest you will pay over the length of the loan.

Your credit score can also play a big role in the rate you qualify for.

And none of this takes into consideration the possibility of seller or home builder concessions which I’ve seen in recent transactions. 

My investment banking background has helped me provide my clients with a clear advantage when it comes to steering them in the direction of the best mortgage options for their individual situations.

So, yes, the current market is not for the timid or inexperienced, but fortunately you’ve got me.

However, you won’t know anything until you give me a call so together we can construct a Residential real estate plan that fits your family’s individual wants, needs and budget requirements.

If Residential real estate is among your hopes and dreams for 2026, please give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com and let me help make them come true. 

The earlier you begin the process, the earlier you will be realizing those dreams for you and your family.

 

And now for statistics…

 

MARCH 2026

Statistics provided by the Pikes Peak REALTORS Service Corp., or it’s “elevate” MLS

 

Here are some highlights from the March 2026 “elevate MLS” report.   

As an aside to avoid confusion, the “Pikes Peak MLS” has been renamed “elevate MLS” and you will note me referring to it as such from here forward.  Same organization, new branding. 

 

In El Paso County, the average days on the market for single family/patio homes was 58.  For condo/townhomes it was 80. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.1% and for condo/townhomes it was 98.9%. 

 

In Teller County, the average days on the market for single family/patio homes was 68 and the sales/list price was 97.5%.

 

Please click here to view the detailed 10-page report, including charts.  If you have any questions about the report or to find out how it relates to your individual situation, just give me a call.

 

In comparing March 2026 to March 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

  • New Listings were 1,760, Up 4.9%
  • Number of Sales were 1,036, Down 2.2%
  • Average Sales Price was $539,720, Down 4.1%
  • Median Sales Price was $475,000, Down 4.0%
  • Total Active Listings are 3,057, Up 16.3%
  • Months’ Supply is 3.0

 

Condo/Townhomes:

  • New Listings were 272, Up 6.3%
  • Number of Sales were 131, Down 7.7%
  • Average Sales Price was $338,333, Down 10.3%
  • Median Sales Price was $312,000, Down 14.5
  • Total Active Listings are 617, Up 15.3%
  • Months’ Supply is 4.7

 

Now a look at more statistics…

 

MARCH 2026 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS® , Pikes Peak REALTORS Service Corp, or it’s “elevate”MLS

Providing greater detail than the above report, this contains information on both El Paso and Teller counties for Residential real estate. 

The “Activity Snapshot” for all residential properties in El Paso and Teller counties shows the Year to Date one-year change:

 

  • Sold Listings for All Properties were Down 0.8%

 

  • Median Sales Price for All Properties was Down 1.8%

 

  • Active Listings on All Properties were Up 9.4%

 

You can click here to read the 16-page Monthly Indicators or click here to get specific information on the geographical are of your choice from the 18-page Local Market Update.  It’s a good idea to check out your own area or one that you might be considering to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area:

 

ERA SHIELDS QUARTERLY STAT PACK

Data through 1st Quarter 2026, ERA Shields

Here is data from my company’s quarterly “Stat Pack” that can better help you understand the local buying and selling reality.  I have reproduced the first page, and you can click here to get the 5-page report in its entirety.

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, February 2026

As always, I like to share the useful data I receive from our “local economist”, Tatiana Bailey.  You will see in these charts what’s happening locally in terms of the economy as well as the most recent Workforce Progress Report.

This information is especially invaluable to business owners; however, I know you all will all find it worthwhile reading.

Below is a reproduction of page 6 of graphics. To access the full report, please click here.  And if you have any questions, give me a call.