August 25, 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.

 

 

LOTS MORE QUESTIONS THAN ANSWERS THESE DAYS

I truly don’t have much to tell you that I haven’t already said time and again this year.

The Residential real estate market is slower than I ever remember and for several reasons. 

Mortgage interest rates, while falling a bit in the last few weeks, are still high in comparison to just a few years ago and that hurts affordability for some folks.

While there are more existing homes for sale than a year ago, there are also still fewer choices than buyers would like.

Some homeowners refinanced their home when the interest rates were historically low and are hesitant to move up to a higher rate at present.

I could go on and on, but the reality is this—today is a buyer’s market and likely to stay that way until rates are lower and more homes are listed for sale.

One good thing is that while home appreciation is certainly not what it was 4 or 5 years ago, it is normalizing and home values are not going down any time soon, if ever. 

Even newly built homes are having a tough time sales-wise due to the increased prices of lumber, steel, aluminum and more.  Builders are working to entice buyers with discounts and other incentives.

And homes in general are staying on the market for longer times than I can recall.

However, it’s not all dismal news.

Should you be looking to buy, now is a great time as it is a buyer’s market. 

If you have been wanting to sell to trade up or move to a new neighborhood, you likely have more equity in your present home than you might imagine for use toward a down payment on a new home.  That can help reduce your monthly payment despite the higher interest rate.  However, it will likely take longer to sell your present home today.

And another thing we’re seeing is that just because mortgage rates are listed at a certain price, there are many options to consider that could bring down the rate and thus lower your monthly payment.

One thing to remember is that home values are only going to go up which means the home you want to buy today will cost you more in the long run. 

There is a lot to think about and many questions that need answering if you’re even considering a move.

But you won’t have any of those answered until you give me a call.

I’ve been in the local Residential real estate arena for 53 years and that, along with my Investment Banking background, gives me a heads up in my ability to help my clients find not only the best home options for their wants, needs and budget requirements, but I can also help by directing them to lenders who have various options to fit their specific needs.

I provide my clients strategic solutions to whatever their Residential real estate needs and my expert negotiation skills go a long way to make certain they get the best deal possible, whether buying or selling.

Give me a call at 719.593.1000 or email me at Harry@HarrySalzman.com  and let me help you make your Residential real estate dreams come true.

 

COLORADO SPRINGS’ MEDIAN SALES PRICES STAYED CLOSE TO THE SAME IN THE SECOND QUARTER 2026

The National Association of Realtors (NAR) 8.4.26

In the recently published report from the National Association of Realtors (NAR), single-family, existing-home prices grew more than 80% in measured metro areas in the second quarter 2026.  This is up from 71% in the previous quarter. `

According to Lawrence Yun, chief economist for NAR, “Home sales increased despite mortgage rates rising.  This testifies to the potential housing demand building up from steady job and income gains.  Sales rose in three of the four major regions, with the South leading the way due to faster job growth.  The Northeast was the exception, held back partly by slower job growth and faster-appreciating home prices, which hurt affordability.”

Yun continued, “It is welcoming to see incomes rising faster than home prices, which has helped boost affordability—but the big short-term challenge to affordability is coming from rising mortgage rates.”

Compared to a year ago, the national median single-family existing-home price climbed 1.5% to $434,900.

The median sales price of single-family homes in Colorado Springs declined by 0.02% to $479,500 during the second quarter 2026 per NAR.  This price reflects detached, single-family and patio homes but not townhomes or condominiums.  

The median price in the Springs ranked 52nd highest of the 219 cities surveyed.  

To see all 219 metro areas in alphabetical order, please click here.  To see them in ranking order, click here.  Or click here to see what income levels are required to purchase homes based on either a 5, 10 or 20 percent down-payment.

If you have any questions, please give me a call.

 

ERA SHIELDS STAT PACK

Data through July 2026, ERA Shields

Here is the newest data from my company’s monthly “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.