HARRY'S BI-WEEKLY UPDATE 8.7.25
August 7, 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.
LET ME START WITH A NOTE TO POTENTIAL SELLERS:
I’ve had a number of questions from clients who are considering selling their present home to either trade up or move to a new location.
Most of them are worried about selling in today’s market and wondering the best strategy. And quite honestly, strategy is exactly the right word.
When pricing a home for sale, it’s both an art and a science. The price you choose isn’t just a number—it’s a strategy. And in today’s market, that strategy needs to be sharp.
With the number of homes for sale escalating, buyers have more choices than they have had in several years and they can be more selective. If you haven’t priced your home in line with what buyers are seeing out there, it’s likely to be overlooked.
More and more, sellers today are finding that out the hard way and wanting to list their home based on how things were a year or two ago—or based on a neighbor’s sale that happened under completely different circumstances.
When their home doesn’t sell as quick as they would like they are left with several choices; drop the price, take it off the market, or rent it out.
None of those options may have been part of the original plan but pricing it right from the start is your best move for success and that’s an area where I can greatly assist you.
Some areas of the country are seeing a lot of price cuts and while Colorado Springs ranks better than most in that category, we are still finding it takes a lot longer than even in the recent past to get a home sale to closing.
I can give you a personal example, having put a home I had used as a rental for many years on the market.
When my tenant left, I decided it was time to sell, but first the home needed a complete renovation in terms of appliances, flooring, paint and more. This took about 2 months and by the time I put the home on the market it was not the “ideal” spring and summer selling season. It was late October.
It was a great house in a great neighborhood and priced at what I thought would be ideal for a sale, especially for a first-time buyer. Well, what I thought was one thing and because of the timing or because of mortgage interest rates or whatever, I ended up lowering the price several times and had to wait until the holiday season was over before the home sold.
I share this so you understand that this is something that is happening to most everyone, even me, and it takes patience to get a home sold today.
It’s a tough market for sure, but pricing, timing and working with someone like me who understands the local market is a must for anyone looking to sell their home today.
What is this leading to?
If you have even considered a move in the last year or two, it’s most definitely worth finding out how you can make that possible.
It might take you a bit longer to sell your present home, but it could be easier to find the next one and there are ways to make both work to your advantage.
And with interest rates holding and projected to go down, you might want to listen to my podcast to see how you can make even the current rates work in your favor since home appreciation should make up the difference between today’s interest rate and that projected by year’s end.
If you’ve got two minutes and thirty-two seconds, I recommend that you watch my newest podcast.
Simply click on the link below and you will be directed to my personal YouTube channel:
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!
In any case, you won’t know what’s available in your personal situation until we get together and 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 plus 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 now for statistics…
JULY 2025
Statistics provided by the Pikes Peak REALTORS Service Corp., or it’s PPMLS
Here are some highlights from the July 2025 PPAR report:
In El Paso County, the average days on the market for single family/patio homes was 36. For condo/townhomes it was 52.
Also in El Paso County, the sales price/list price for single family/patio homes was 99.1 % and for condo/townhomes it was 99.0%.
In Teller County, the average days on the market for single family/patio homes was 51 and the sales/list price was 98.0%.
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 July 2025 to July 2024 for All Homes in PPAR:
Single Family/Patio Homes:
- New Listings were 1,654 Up 0.9%
- Number of Sales were 1,152, Up 2.2%
- Average Sales Price was $574,276, Up 0.5%
- Median Sales Price was $497,475, Down 0.3%
- Total Active Listings are 4,227, Up 29.1%
- Months Supply is 3.7
Condo/Townhomes:
- New Listings were 272, Up 10.6%
- Number of Sales were 142, Down 2.1%
- Average Sales Price was $390,355, Up 2.3%
- Median Sales Price was $339,950, Down 4.2%
- Total Active Listings are 711, Up 19.3%
- Months Supply is 5.0
JULY 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 Down 0.6%
- Median Sales Price for All Properties was Down 1.0%
- Active Listings on All Properties were Up 21.3%
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 FIVE YEAR RULE FOR HOME PRICES…an infographic
Keeping current matters 7.15.25
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Some Highlights:
- If home price headlines have you worried, here is some perspective.
- Home values almost always go up in the long run, even better than stocks and bonds as I’ve always told you. Basically, if you plan to live there for 5 years or more, you should be able to buffer yourself against any short-term declines, if any.
ECONOMIC & WORKFORCE DEVELOPMENT REPORT
Data-Driven Economic Strategies, July 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 July 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.
