Real Estate Information Archive

July 29, 2025

 

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.

 

 

MORE OF THE SAME….AND SOME PREDICTIONS…

Not often the case, but recently Colorado Springs is mimicking what’s happening all over the U.S.A. in terms of Residential real estate.

We currently have more inventory than we’ve had in ages, but homes just aren’t selling very fast.  In fact, quite the opposite.  However, the good news is that homes keep appreciating, although at a more normalized pace than in the last several years.

I was listening to a podcast by Lawrence Yun, chief economist at the National Association of Realtors (NAR) and he was talking about a survey of 88 million homeowners that was done by NAR.

The results showed that 35.2% of those homeowners have no mortgage—either they paid cash for their home or paid off the mortgage on that home.  That left 52.8% of those who did have mortgages. 

A record of “high net worth” of those who owned homes was also indicated in the survey.  Therefore, as homeowners you should be proud that you are among the “high net worth” folks. 

This was no surprise to me as a family’s home is most often their greatest asset and over time, most home values have increased faster than stocks and bonds. This is even more true today as homes keep continuing to appreciate.

And speaking of appreciation, there are a number of folks who have been waiting for home prices to decrease, along with lower mortgage rates, before jumping into the market.

Well, I’ve got some news for you…it just isn’t in the cards for those two things to happen anytime soon, if ever again.

Homes might be dipping a bit in some markets, but not here in Colorado Springs and those waiting for bigger dips need to face the facts.  While home price growth is slowing down, that doesn’t mean we’re headed for a crash.  As the National Association of Homebuilders (NAHB) explained:

 

“House price growth slowed…partly due to a decline in demand and an increase in supply.  Persistent high mortgage rates and increased inventory combined to ease upward pressure on home prices.  These factors signaled a cooling market, following rapid gains seen in previous years."

 

However, experts say that even with the slowdown, prices will still rise this year nationally as well as here in Colorado Springs. 

The average of 8 leading forecasters shows prices are expected to go up 1.5%-2% nationally in 2025.  See below:

 

 

That means, if you’re waiting for a major drop, most experts agree that’s just not in the cards.

Plus, those small changes are not so important when you consider how much home prices have climbed over the past few years.  Data from the Federal Housing Finance Agency (FHFA) shows prices are up 55% nationally compared to just five years ago.

If you can read between the lines, and as I’ve said all along, the best time to buy a home is NOW—no matter when “now” is.  Homes will continue to appreciate and the sooner you buy, the sooner you will start earning appreciation.

Now about mortgage rates.

Once again, there are some who are waiting for rates to come down before looking to buy.  According to Yahoo Finance:

 

“If you’re looking for a substantial interest rate drop in 2025, you’ll likely be left waiting.  The latest news from the Federal Reserve and other key economic data point toward steady mortgage rates on par with what we see today.”

 

To put it bluntly, don’t try to time the market or wait for a drop that may not be coming. 

Most experts say rates will remain in the 6’s and current projections have them settling in the mid-6% range by the end of this year.  See below:

 

 

Once again, those of you that have been “on hold” are watching homes continue to appreciate while waiting for interest rates to fall and realizing that waiting is costing you, most especially in the home appreciation that’s happening to a home you might want to purchase while you wait. 

If you’ve been wanting to explore how you can sell to trade up or move to a new neighborhood, I can help you determine if now is the right time to do so and if it is, can help you navigate the Residential real estate waters.

I can almost always find a way to help my clients get what they want, need and can afford no matter the state of the current market.

With more properties on the market at present, as a buyer you can use that to your advantage.  If you want to make a move, your best bet is to focus on your personal situation—not what the headlines say.

If you’ve even considered a move in the last year or more the time to start is NOW.  You might be surprised to find that the possible increased equity in your present home could provide you with a greater down payment, which in turn will result in less of a monthly output than you might expect.

But you won’t know anything unless you get together with me and we figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

I am a leading authority in the Residential real estate industry and keep my clients and visitors well-informed, thus enhancing their ability to make timely and effective real estate decisions.

 

Give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and together let’s see how your Residential real estate dreams can become reality in the best time frame for you.

 

HOME SALES HIT NINE-MONTH LOW

Reuters, 7.24.25, The Wall Street Journal, 7.24.25

The key spring buying and selling season turned out to be a dud this year as mortgage rates weighed on activity.

While home prices rose to a record high in June, a housing market recovery in 2025 is looking less and less possible.

The usually busiest time of year for Residential real estate saw sales at a nine-year low.  Home appreciation and high interest rates have made home purchases unaffordable for many.

High prices have contributed the most to the sluggish market.  However, with more homes coming on the market, the previous seller’s market is now turning into a buyer’s market.

This is great news for those looking to move.  The days of bidding wars and buying homes sight unseen are gone and there is a lot more room for negotiation these days. 

So once again, if you’ve been thinking of making a move, it’s most definitely worth finding out how to make it happen.  There are a lot more homes to choose from and my expertise in negotiation can greatly help in this buyer’s market.

 

ERA SHIELDS QUARTERLY STAT PACK

Data through Quarter 2, 2025, 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 report in its entirety.

 

July 9, 2025

 

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.

 

 

IT’S MOST ALWAYS A QUESTION OF “TIME” …

Most everything in life, including the buying and selling of Residential real estate brings up the question of timing.  Is it the “right” time for whatever it is you may want to do… or buy… or sell?

When it comes to homes or securities you will rarely, if ever, find a “right” time to buy, nor a “right” time to sell if you’re talking about buying at the lowest price and selling at the highest.

However, the one thing I know for sure is when it comes to the buying and selling of homes…it’s most always the “right” time for you if it’s something you need or want to do in order to make life changes—be it to buy a larger home or downsize or to move to a new neighborhood or closer to family and friends.

Yes, the mortgage rates are higher than they were several years ago, but they are lower than they were just a few months ago.  They are not likely to ever go back to those historic lows of yore, and I doubt they will go back to the 18% and higher rates of the 1970’s.  You read that right.  A lot of us paid mortgage interest rates that are triple today’s rates for our first homes, and we found a way to make it work.

Folks are starting to list their homes a bit more than in the recent past and probably for some of the above reasons.  In fact, the current number of listings locally just reached an 11-year high despite the median sales price hitting at a record high. 

Those who were waiting for lower rates or lower home prices while putting their plans on hold have finally decided that there’s no time like the present to move on.  Pun intended!

That’s great news for buyers because there are more available homes for sale which provides greater choices.  When interest rates were very low, there were bidding wars, prices way over list and mostly all cash deals.  Many of my clients were buying homes without so much as walking into them.  So, there is most definitely a tradeoff. 

A slower market allows time for inspections, a bit of negotiation if necessary and definitely more time to make important decisions concerning your move.

As you will see in the statistics below, our listings are up, and the appreciation is up as well, although at a more “normal” rise than during the housing frenzy of a few years ago. That means the sooner you buy the home you want, the sooner you will start earning equity.  And if the interest rates go down later, you will likely be able to refinance at a lower rate.

With the spring buying and selling season in full swing, NOW is the best “time” to have me do the research for you  if you’ve even considered a move in the last year or more.  You could be surprised to find that the possible increased equity in your present home will provide you with a greater down payment, which in turn will result in less of a monthly output than you might expect.

But you won’t know anything unless you get together with me and we figure out how to put your wants, needs and budget requirements to the best use to find just the right place for you and your family.

My 53 years in the local Residential real estate arena, makes me more than qualified to help my clients find the best solution to their housing needs so why not give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and together let’s see how your Residential real estate dreams can become reality in the best time frame for you.

 

And…if you’ve got one minutes and fifty seconds, I recommend that you take a look at my newest podcast. 

Simply click on the link below and you will be directed to my personal YouTube channel.

 

To watch, click here:

https://youtu.be/OEcXewa9FdU

 

While you’re at it you might want to subscribe to my channel, so you won’t miss future broadcasts.  It won’t cost you anything…well, it could cost you… if you miss some of my informative musings!

 

 And now for statistics…

 

JUNE 2025

Statistics provided by the Pikes Peak REALTORS Service Corp., or it’s PPMLS

Here are some highlights from the June 2025 PPAR report: 

 

In El Paso County, the average days on the market for single family/patio homes was 37.  For condo/townhomes it was 58. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.6% and for condo/townhomes it was 99.2%. 

 

In Teller County, the average days on the market for single family/patio homes was 58 and the sales/list price was 97.8%.

 

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 June 2025 to June 2024 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1,869, Up 12.1%
• Number of Sales were 1,197, Up 7.4%
• Average Sales Price was $570,516, Up 1.1%
• Median Sales Price was $500,000, Up 0.2%
• Total Active Listings are 4,055, Up 36.3%
• Months Supply is 3.4

 

Condo/Townhomes:

• New Listings were 250, Down 10.4%
• Number of Sales were 146, Down 5.2%
• Average Sales Price was $348,082, Down 11.4%
• Median Sales Price was $330,000, Down 9.6%
• Total Active Listings are 673, Up 17.2%
• Months Supply is 4.6

 

JUNE 2025 MONTHLY INDICATORS AND LOCAL MARKET UPDATE ILLUSTRATE OUR LOCAL TRENDS IN DETAIL

Colorado Association of REALTORS^{® ,} Pikes Peak REALTORS Service Corp, or it’s PPMLS

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 Up 6.5%

 

• Median Sales Price for All Properties was Up 0.3%

 

• Active Listings on All Properties were Up 25.7 %

 

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:

 

THE TOP FIVE REASONS TO HIRE A real estate AGENT WHEN YOU SELL…an infographic

KeepingCurrentMatters, 7.1.25

Some Highlights:

• I don’t just list your house—I help you sell smarter, faster and with fewer surprises.
• With my help you know what’s happening in the local market and how to price your house just right to sell. 
• You’ll feel far more confident filling out complex legal documents and my expertise in negotiation is priceless.

If you’re ready to sell, let’s sit down and see how to best market and price your home to help you avoid costly mistakes, both in time and dollars.

 

EIGHT WAYS TO INCREASE YOUR HOME’S VALUE

Bankrate.com, 6.22,25

The value of your home can increase or decrease due to a number of factors.  While some variables are out of your control such as how hot our market is or isn’t, other might be—such as strategic upgrades to the premises.

Many home improvements can add a significant amount to the value of your home and while they won’t all be recouped at full cost, they will make the home more marketable, and of course, improve your quality of life while still living in the home.

 

1.  Clean and declutter.  Decreasing the “stuff” in your home are relatively inexpensive tasks that can improve the look and livability of your home.

 

2. Add usable square footage.  Since homes are valued and priced by the livable square footage, the more the better.  Adding a bathroom, a great room or another needed space to a home can increase function and add value.  A separate “in-law” suite can also be a smart idea.  Most homes do not have this feature so adding one will set your home apart.

 

3. Make your home more energy efficient.  Projects that lower utility bills can most definitely increase the value of your home, and they don’t have to be complicated.  You can improve your home’s efficiency and value by replacing old, leaky windows, installing energy-efficient home appliances and insulating walls.  Swap out old incandescent bulbs for energy efficient LED’s which last longer and use less electricity.

 

4. Spruce it up with fresh paint.  A new coat of paint can make even dated exteriors and interiors look fresh and new.

 

5. Work on your curb appeal.  From power washing your driveway to mowing the lawn, increasing curb appeal can make a huge difference in your home’s value.  Upgrading your landscaping or adding a fresh walkway, planters or even a new patio or outdoor kitchen are excellent upgrades.  Even small details like solar-powered path lights or a new house number sign can make a difference.

 

6. Upgrade your exterior doors.  Continuing with improving the curb appeal, replacing an old front door can give your home a sense of freshness.  Since garage doors take up a great deal of the space in the front of your home, updating them will dramatically improve your home’s appearance as well.

 

7. Update your kitchen.  Many buyers zero in on the kitchen as the central feature of a home so if yours is outdated it can ultimately affect how much you get from a sale.  If you aren’t able to utilize your kitchen fully due to layout, space or other concerns, you won’t be maximizing the space.

 

8. Install smart technology.  Smart appliances can “read” the conditions in your home and make automatic adjustments and thus save energy consumption and money.  Items like smart thermostats and smart window treatments can help keep AC bills down in summer.

 

Your home is likely one of your greatest financial assets so making a few changes can not only increase the current value of your home but can also affect the amount of money you get when it’s time to sell.

These changes can also make your home more “livable” and enjoyable for you and your family even if you aren’t planning to sell immediately.

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, June 2025

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

 

 

UCCS ECONOMIC FORUM MONTHLY DASHBOARD  

Updated June 2025, UCCS College of Business/Economic Forum

Here is the monthly report from the UCCS College of Business Economic Forum.  It is created by professor Dr. Bill Craighead, who is the Forum Director.  He also publishes an on-line “Weekly Economic Snapshot” you might enjoy.

I know several of you who like statistics and use this information in your daily business life, and I will share it with you when I receive it each month. 

I’ve reproduced the first page of the charts below.  To access the report in its entirety, please click here.