HARRY'S BI-WEEKLY UPDATE 7.9.25
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:
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.
- Clean and declutter. Decreasing the “stuff” in your home are relatively inexpensive tasks that can improve the look and livability of your home.
- 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.
- 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.
- Spruce it up with fresh paint. A new coat of paint can make even dated exteriors and interiors look fresh and new.
- 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.
- 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.
- 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.
- 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.
