June 5, 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.

 

 

MORE OF THE SAME, BOTH GOOD AND NOT QUITE AS GOOD

We are now right smack in the middle of the spring buying and selling season and it’s not looking great for either buyers or sellers at present.

The good news is that home values are continuing to rise.  In fact, just last week the April realtor.com Luxury Housing Report indicated that Colorado Springs is #4 in the “Top Emerging Luxury Markets”. 

I was just as surprised as I’m sure you are reading this, but apparently, it’s true.  This is based on the listing, not selling prices, but as you will see in the statistics below, our homes are selling for real close to listing price when that price is realistic to begin with.

For someone who has lived here for more than 50 years and having been in Residential real estate for 53 of those years, it’s hard for me to wrap my head around that.  But, considering how we have fared much better than most of the country in home appreciation over the last 10 years I suppose I shouldn’t be surprised.

According to the survey, in Colorado Springs the 10% most expensive listings start at $1,003,594 and 17.8% of our listings are over $1,000,000.  Sound crazy?  Wait another 20 years, and with the rate of appreciation we have seen, who knows what our homes will be selling for.

Now let’s talk about how this can translate to you, my friends and clients.

For most folks, homeownership is their most significant financial investment.  As we’ve seen over the long haul, home appreciation has surpassed the gains from the stock and bond markets.  What does that mean?

Each and every day your home is working to create long term wealth for you and your family.  And as you pay down your mortgage, you are also building equity along with that appreciation.

While homes are most definitely more expensive than they’ve been, they are also cheaper than they will be in the future. 

Most all economists have been saying that home values are not going down and should continue to appreciate, although at more realistic values than during the housing frenzy of several years ago.

That means if you have waited to sell to trade up or move to a new location because of the higher interest rates, each day you wait is costing you in terms of home appreciation.  And if you are renting, your monthly payments are helping your landlord see returns on their investment.

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

If you’re ready to explore the possibilities of a move, together we can construct a plan that fits your family’s individual wants, needs and budget requirements.

And the earlier you begin the process the sooner you will be seeing returns on your investment.

Call me today at 719.593.1000 or email me at Harry@HarrySalzman.com and let’s see how you can achieve your Residential real estate dreams.

 

And now for statistics…

 

 

MAY 2026

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

Here are some highlights from the May 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 39.  For condo/townhomes it was 61. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.3% and for condo/townhomes it was 98.6%. 

 

In Teller County, the average days on the market for single family/patio homes was 58 and the sales/list price was 98.4%.

 

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 May 2026 to May 2025 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

  • New Listings were 1783, Down 12.9%
  • Number of Sales were 1,251, Up 7.3%
  • Average Sales Price was $577,202, Up 1.9%
  • Median Sales Price was $499,952, Up 2.0%
  • Total Active Listings are 3,667, Down 0.1%
  • Months’ Supply is 2.9

 

 

Condo/Townhomes:

  • New Listings were 256, Down 5.9%
  • Number of Sales were 144, Down 13.3%
  • Average Sales Price was $343,824, Down 5.7%
  • Median Sales Price was $337,500, Down 1.0%
  • Total Active Listings are 726, Up 15.4%
  • Months’ Supply is 5.0

 

Now a look at more statistics…

 

MAY 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 Up 8.0%

 

  • Median Sales Price for All Properties was Up 0.8%

 

  • Active Listings on All Properties were Down 2.0%

 

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 TRUTH ABOUT AFFORDABILITY TODAY

KeepingCurrentMatters, 5.27.26

Let’s get real about affordability because you deserve transparency and honesty about what’s going on, most especially if you have a move in your future.

Here’s the full picture of what’s happening and why.  While rates are certainly a big part of affordability, they’re not the only factor at play.

 

Mortgage Rates Have Been Rising

After more than a year of rates trending down, they’re started to climb a bit again.  And if you’re looking to buy, that’s not what you want to see.  But it HAS happened and here’s why.

Uncertainty is the enemy of mortgage rates. 

With the lingering global uncertainly, ongoing tensions in the Middle East and inflation refusing to fully cool off, there’s a lot that’s affecting mortgage rates.  As Colin Robertson, founder of The Truth About Mortgage said, “You can’t have $100 a barrel oil and not expect inflation to rise, which translates to higher bond yields and mortgage rates”.

The graph below used data from Mortgage News Daily and shows just how much all of those factors have had an impact:

 

 

It’s a sharp contrast from where we’ve been in a relatively short window.  And it could make you wonder: Should I just wait this out?  Will rates fall when the uncertainty eases?

It’s possible, but it all depends on how the ongoing geopolitical conflict plays out and whether inflation continues to run hot afterwards--and for how long.

Rates probably aren’t heading down until both of those things improve.  And when that does happen, most experts agree that rates won’t be dramatically lower—maybe in the low to mid 6% range.  That’s reality and worth knowing if you are wanting to buy now.

So, should you wait for lower rates? The general consensus is, if you can afford to buy and you find a home you like, it’s still worth it, as I mentioned earlier. 

No one knows for sure when rates will start to come back down—but we do know that home values will continue to rise—and quite honestly, how long do you really want to put your life on hold?

 

Wages Are Outpacing Home Prices

There’s no shortage of headlines about the cost-of-living outpacing checkbooks and it’s a legitimate concern.  But here’s what doesn’t make the headlines. It’s not all bad news.

Data from the Federal Reserve Bank of Atlanta and Redfin shows wages have actually been growing faster than home prices.

  • Recently, wages have been increasing at around 4% year-over-year.
  • And home price growth is closer to 2% year-over-year.

As a buyer, you want your income to rise faster than prices because that helps make your purchase more manageable financially, and it quietly chips away at the affordability over time.  That’s exactly what we are seeing lately, and every little bit is going to help.

A big reason that wages have been gaining ground on home prices is that home prices have stayed fairly steady.

Check out the graph below.  It shows national home price data from the National Association of Realtors (NAR) over the past four years.  You will see there’s been no dramatic runup, and no crash either.  Just relative stability and slow growth.

 

 

Part of what’s keeping prices this stable is that buyers finally have more choices than just several years ago.  That means less competition, more negotiating power and more time to find the home that is just right for your life, not the one you had to grab sight unseen with bidding wars as well.

Even with today’s rates, you now have a chance to find something that can work for your wants, needs and budget along with the time to make a careful decision.

So, once again, you won’t know how this can work for you and your family until you give me a call and we come up with a plan for your individual situation.

If you’ve been waiting, you owe it to yourself to find out how you can make things work for you today. 

I look forward to speaking with you.

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, May 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 will find it worthwhile reading.

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

 

UCCS ECONOMIC FORUM MONTHLY DASHBOARD  

Updated May 2026, 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.