Real Estate Information

October 27, 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.

 

 

MORTAGE RATES ARE AT THEIR LOWEST AVERAGE IN MORE THAN A YEAR AND LOCAL LISTINGS ARE UP...BUT SALES ARE STILL SLOW…FOR NOW

Mortgage rates hit their lowest average rate since October 2024---with the 30-year, fixed-rate mortgage averaging 6.19% according to Freddie Mac---and it’s providing a bit of a boost to homebuyers.  In fact, the last time the 30-year fixed-rate average was lower than today was October 3^rd last year.

The 15-year, fixed-rate mortgage also decreased, averaging 5.44%, lower than the 5.52% two weeks ago and the 5.71% average from this time last year.

And, the Federal Reserve has indicated that there will be two more interest rate cuts before year end, which could in turn help reduce mortgage interest rates as well.

These are all positive signs for the Residential real estate market, and I expect to see local sales picking up sooner than later. 

While this is traditionally not the most active buying and selling season, it appears that folks who have been waiting for better rates are looking to jump ahead while there are more available homes for sale.

I can’t agree more. 

There is currently a ripple effect in the market—in a good way.  Last week the National Association of Realtors (NAR) reported that its measure of pre-owned home sales increased 1.5% in September.  According to Lawrence Yun, chief economist for NAR, “falling mortgage rates” are the reason and all told, existing home sales reached a seven-month high in September nationally.

While sales have been slow and it’s been much more of a buyer’s market of late, I’ve recently had calls from folks wanting to find out if this is the time for them to make their move…literally.

I tell them what I have told my clients forever—it’s only a good time if it’s a good time for your individual situation.

And there is only one way to find that out—by giving me a call and scheduling a time to get together and see how your wants, needs and budget requirements can be best used to find just the right place for you and your family.

If you’ve even considered a move in the last year or more NOW is the time to begin before others jump in to take advantage of the new rates and increased options.  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.

As many of you are aware, I am a leading authority in the Residential real estate industry—with more than 50 years in the local real estate arena and a background in investment banking as well.   

This helps me keep my clients 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.

 

NEW HOME SALES SENTIMENT HIT A SIX-MONTH HIGH

Reuters, 10.17.25

The lower interest rate has also affected U.S. homebuilders, with sentiment jumping to a six-month high this month.

Economic uncertainty and the lackluster job market nationally have offset some of the anticipated boost. However, those looking to buy a newly constructed home are seeing some builder incentives to make a sale more attractive.

Some builders are rolling back prices to bring more buyers to the table.  In fact, 38% of builders reported cutting home prices in October, with the average reduction rising to 6%, according to the latest National Association of Home Builders/Wells Fargo housing market Index.

These cuts are narrowing the gap between new and existing homes, with economists calling this an “unprecedented pricing shift” since new homes have historically sold for much more than existing homes on average.

While existing homes prices continue to edge higher each month—although at a much slower pace lately—more builders are turning to price reductions and smaller floor plans to reach buyers who feel priced out.

Also, according to the survey, 65% of builders said they turned to additional incentives such as:

 

• Mortgage rate buydowns to shrink your monthly payment

 

• Price cuts that make homeownership more attainable

 

• Help with closing costs and even upgrades in some communities

 

This is great news for those looking to buy a newly constructed home and certainly not something to overlook.

And what’s even better news for you if this is a consideration?

I can help at no additional cost to you.

Yes, you read that right.  If a newly constructed home is in your future, I can be of great assistance at no extra cost to you.

I can assist with home location, elevation and other factors that are important to you.  More importantly, I can help direct you to a lender who can provide the best rates and service for your individual situation.

These incentives won’t be around forever so if this is something you have considered, give me a call and let’s discuss how to make them work in your favor today.

 

TOP SELLER MISTAKES…an infographic

There has been some talk about selling a home without an agent or through a national network.  I’ve personally seen some folks try to do so and ultimately almost all have realized that without the help of a qualified, knowledgeable local agent they often got nowhere. 

They lost time and possibilities due to the lack of individualized help and ended up turning to an agent in the end.

My advice?  You get what you pay for—and when it comes to selling a home it is more than worth it to have someone like me in your corner working for you.

Just a “word to the wise”, as they say…

 

October 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.

 

 

HAPPY FALL SEASON….AND THIS YEAR ALSO A GOOD TIME TO CONSIDER YOUR RESIDENTIAL real estate NEEDS AND WANTS AS WELL….

The picture above was taken last week on our drive from Dillon to Breckenridge and it could not have been more picturesque.  Fall is most definitely in the air.

As many of you may know, mortgage rates are now the lowest in 11 months and are likely to fall even more before year end. 

What does that mean if you are considering a move?

Well, things are starting to pick up even though it is not the “traditional” buying and selling season and when there are more homes on the market and more buyers for those homes, prices will start to go up and price and other type of negotiations will be much tighter than they have been in recent months.

As you will read in an article below, the opportune time to buy in 2025 is next week—the week of October 12-18 as well as the surrounding weeks. 

If you’re even thinking of making a move, I’d suggest you read that article and then contact me at your earliest convenience.

Together we can see what’s available for your personal situation 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.

Why not give me a call today at 719.593.1000 or email me at Harry@HarrySalzman.com and let’s see how your Residential real estate dreams can become reality in the best time frame and for the best financial situation for you.

 

And now for statistics…

 

SEPTEMBER 2025

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

 

Here are some highlights from the September 2025 PPAR report: 

 

In El Paso County, the average days on the market for single family/patio homes was 50.  For condo/townhomes it was 65. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 98.8% and for condo/townhomes it was 97.7%. 

 

In Teller County, the average days on the market for single family/patio homes was 72 and the sales/list price was 99.0%.

 

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 September 2025 to September 2024 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1,328, Down 0.2%
• Number of Sales were 1,026, Up 10.0%
• Average Sales Price was $565,356, Up 5.7%
• Median Sales Price was $479,450, Down 1.1%
• Total Active Listings are 4,010, Up 18.2%
• Months Supply is 3.9

 

Condo/Townhomes:

• New Listings were 170, Down 32.0%
• Number of Sales were 143, Up 2.1%
• Average Sales Price was $366,060, Down 5.1%
• Median Sales Price was $326,000, Down 11.9%
• Total Active Listings are 648, Up 3.3%
• Months Supply is 4.5

 

SEPTEMBER 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 11.6%

 

• Median Sales Price for All Properties was Up 0.8%

 

• Active Listings on All Properties were Up 10.0%

 

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:

 

WHEN WILL BE THE BEST TIME TO BUY A HOME IN 2025?  (Hint:  It’s coming real soon)

National Association of Realtors, 9.17.25

 

A new study from realtor.com pinpoints why this fall my offer a hidden sweet spot for home buyers. 

Mark Your Calendars:  The week of October 12-18, as well as its surrounding weeks could offer home buyers a prime time to make an offer on a home. 

The recent study finds that next week offers a rare trifecta—more listings, lower prices and less competition—creating an ideal moment for home shoppers to make their move.

With more choices and more bargaining power this will be a great time to get off the sidelines and move on with your Residential real estate dreams.

According to Danielle Hale, realtor.com’s chief economist, “I expect this market momentum shift to magnify typical seasonal trends that favor home buyers in the fall.” 

She added that according to the survey data, the next few weeks could give potential buyers not only more homes to choose from and fewer competing shoppers, buy also potential average savings of more than $15,000 compared to this summer’s peak prices.

“In a year that’s been the most buyer friendly in nearly a decade, it’s the best window of opportunity for home buyers all year”, Hale says.  Especially after a slower than usual summer for home sales, buyer demand may be poised for a rebound if mortgage rates continue to ease and home price increases slow.

 

6 Reasons to Buy this Fall

 

1. More listings.  Inventory levels typically peak in early fall, but this year the number of homes for sale has reached the highest point since the pandemic.  Active listings nationally climbed above 1 million in late spring—a milestone not seen in years, according to realtor.com.  Next week home buyers could see up to 33% more active listings than at the start of the year.  Hale noted that “this increase is giving buyers something they haven’t had in years:  breathing room.  More choices mean less pressure to rush into a decision or waive contingencies, and greater opportunity to find a home that fits both lifestyle and budget.”

 

2. Lower prices.  Listing prices during the week of Oct 12-18 typically run about 3.4% below the seasonal peak.  That could translate into a potential savings of more than $15,000 on a median-priced home of $439,450 (and obviously even more on higher priced homes here in Colorado Springs).

 

3. Greater chance of price cuts.  About 5.5% of homes tend to see price reductions during that week, according to realtor.com’s research and economists say recent trends suggest even more discounted listings could emerge this fall.

 

4. Less competition.  Buyer demand has cooled in 2025 as affordability challenges and elevated mortgage rates have weighed on the market.  If this October follow typical patterns, however, competition could be about 31% lower than during the peak season, easing pressure on buyers to make rushed offers.

 

5. A slower pace of sales.  Homes are taking longer to sell—another sign buyers have more time to make decisions.  The U.S. median times on the market passed pre-pandemic norms this summer and Colorado Springs saw the same increased days on the market as well.  In October, homes typically spend about two weeks longer on the market compared with peak season.  However, certain “in demand” homes continue to attract strong attention, and nationally, in July, 21% of homes still sold for above the asking price.  Here in Colorado Springs, we have seen most homes selling for close to listing price but “in demand” homes are still selling for over that.

 

6. More newly listed homes.  Besides higher overall inventory, mid-October also tends to bring a wave of new listings.  About 16% more homes typically debut this time of year, giving buyers additional opportunities to find a match.

 

Timing the Market?

While fall generally brings better deals for buyers, the “best time to buy” ultimately depends on the local market dynamics—especially since affordability challenges continue to shape how and when people move.

I’ve personally been seeing things starting to pick up more in the last month than I’ve seen all year which to me is an indication that folks are tired of staying put and are ready to at least figure out if now is the time for them to make their move.

Once again, you can’t know what is right for your situation unless we sit down and run numbers to see what is possible for you and your family.

Call me sooner than later and I’ll be happy to help you determine if this is the “right” time for you to make your move.

 

ERA SHIELDS QUARTERLY “ON THE HOME FRONT”

VOLUME 3, 2025

Here is a copy of my company’s quarterly newsletter. 

 

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, September 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 September 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. 

September 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.

 

 

A LOOK BACK SOMETIMES HELPS PUT THE PRESENT INTO PERSPECTIVE

As you might have read in recent days, mortgage rates have fallen to the lowest average in nearly a year with Freddie Mac reporting the following national averages with mortgage rates for the week ending September 4:

 

• 30-year fixed-rate mortgages:  averaged 6.50%, dropping from the prior week’s 6.56% average.  A year ago, 30-year rates averaged 6.35%.

 

• 15-year fixed-rate mortgages:  averaged 5.60%, falling from the prior week’s 5.69% average.  Last year at this time, 15-year rates averaged 5.47%.

 

The National Association of Realtors (NAR) is predicting that mortgage rates will remain in the mid-6% range this year and possibly decline to 6% in 2026.  A drop in the Fed Fund rate could see a domino effect into the mortgage market but it’s not a one-to-one and won’t necessarily happen overnight according to Jessica Lautz, deputy chief economist at NAR.

In 1972 when I purchased my first home here in Colorado Springs, it cost $25,100 and when it was time for closing, the mortgage interest rate had fall from 9% to 8.5%.  Salaries were not what they are today—you were fortunate to earn even $10,000 a year-- and the $239 monthly PITI payment was a lot for me at that time.  I had even wondered whether I would qualify.

However, as my home appreciated, I was able to use the equity to purchase my second home and then once more, a third one where I still reside.

I tell you this because purchasing a new home, while obviously more expensive, involves the same steps I had to take back then.  Today’s interest rates are lower than my initial rate and of course, salaries are substantially higher than in those days.

Home buying, whether a first home or a fifth one, is a “process” and while I can certainly attest that first-time buyers are finding it more and more difficult, there are many variables to consider and numerous ways to make it happen.

My 53 plus years in the local Residential real estate arena along with my investment banking background, makes me more than qualified to help my clients find the best solution to their housing needs.  I can also help direct them to lenders that they might not find on their own who can provide the best mortgage solution tailored to them.

If you’ve even thought about buying a home, either for the first time or to trade up or move to a new neighborhood, now is a great time to start thinking about it.

But you won’t know what’s available for 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.

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 and for the best financial situation for you?

 

And….

 

If you’ve got three minutes and three seconds, I recommend that you watch my newest Residential real estate podcast featuring ME, of course.

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

https://youtu.be/sS27jyHsDcg

 

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…

 

AUGUST 2025

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

Here are some highlights from the August 2025 PPAR report: 

 

In El Paso County, the average days on the market for single family/patio homes was 40.  For condo/townhomes it was 59. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 98.9 % and for condo/townhomes it was 98.6%. 

 

In Teller County, the average days on the market for single family/patio homes was 57 and the sales/list price was 99.0%.

 

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 August 2025 to August 2024 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 1,459, Down 9.1%
• Number of Sales were 1,039, Down 2.3%
• Average Sales Price was $566,443, Up 1.4%
• Median Sales Price was $480,000, Down 2,0%
• Total Active Listings are 4,139, Up 24.7%
• Months Supply is 4.0

 

Condo/Townhomes:

• New Listings were 250 Up 0.4%
• Number of Sales were 164, Up 4.5%
• Average Sales Price was $346,232, Down 5.1%
• Median Sales Price was $328,500, Down 5.4%
• Total Active Listings are 684, Up 14.6%
• Months Supply is 4.2

 

AUGUST 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 0.9%

 

• Median Sales Price for All Properties was Down 3.2%

 

• Active Listings on All Properties were Up 15.9%

 

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:

ERA SHIELDS STAT PACK

Data through 8.2025, ERA Shields

Here is data from my company’s “Stat Pack” that can better help you understand the local buying and selling reality.  There are various statistics--some monthly, some quarterly and some annual.  I have reproduced the first page, and you can click here to get the report in its entirety.

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, August 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 August 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. 

 

 

August 26, 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.

 

MORTAGE RATES ARE SLOWING COMING DOWN AND LOCAL LISTINGS ARE UP...BUT SALES ARE STILL SLOW

Mortgage rates hit their lowest mark of 2025 with the long-term rate falling to 6.58% last week, and it is providing a bit of a boost to homebuyers.  That was the fourth week in a row that rates have come down, and here’s hoping that continues for the near future. The current rate is now at its lowest level since October 2024, when it averaged 6.54%. Whether or not this is going to get the ball rolling on our basically stagnant Residential real estate market is yet to be seen. 

Home sales surprisingly rose nationally and here in July while prices eased a bit.

There are more properties on the market, so it appears that even though the spring buying and selling season was somewhat of a bust, it appears that folks might now be ready to make their move (literally).

This week the National Association of Realtors (NAR) came out with a “dashboard” --statistics in graph form-- for various cities.  I found them to quite interesting and have reproduced several pages below for you to get an idea and you can click here to see all of the graphs concerning Colorado Springs.

I think you will find all of the charts informative and if you have any questions, please give me a call.

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 you hear on the news or from well-minding friends or relatives.

If you’ve even considered a move in the last year or more NOW is the time to begin.  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.

 

COLORADO SPRINGS IS RANKED #49 OUT OF 228 MEASURED METRO AREAS IN THE RECENTLY PUBLISHED NAR SURVEY

The National Association of Realtors, 8.12.25

In the recently published quarterly report from the National Association of Realtors (NAR), single-family, existing-home prices grew in 75% of measured metro areas.  This is down from 83% the previous quarter.

Compared to a year ago, the national median single-family existing-home price climbed 1.7% to $429,400.

Also compared to a year ago, the median price of single-family homes in Colorado Springs rose 0.2% to $480,600 per NAR. This price reflects detached, single-family and patio homes but not townhomes or condominiums.  Considering that 24% of the measured markets experienced declining home prices, at least our median price improved just a bit and is higher than the national average.

The median home price increase in the Springs ranked 49^th highest of the 228 cities surveyed.  

To see all 228 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.

 

WHAT MORTGAGE RATE WILL GET MORE BUYERS MOVING? PLUS, A HOUSING FORECAST…

NAR Magazine, 8.13.25

NAR’s latest forecast indicates that about 5.5 million more households would be able to a afford median priced home if the 30-year mortgage rate dropped to 6%.  This number includes 1.6 million renters.  If rates were to hit that number, it’s likely that 10% -- or 550,000 – of those additional households would buy a home over the next 12 to 18 months, according to new data from NAR.

NAR forecasters are saying that rates could dip to the sweet spot of 6% by 2026 and that could drive home sales up 14% in 2026.

So, should you wait if you are wanting to buy?  That depends.  Buyers who are holding out for lower interest rates may be missing out.

Following years of declines, housing inventories are finally rising across the country as well as here in Colorado Springs, giving buyers a greater choice than they have had in many years. 

As a result, home shoppers may find they have more bargaining power and some real estate brokers are even seeing price drops as seller competition heats up. 

And with home values continuing to appreciate, it could cost you to wait if the price of the home you want costs more later.

According to Lawrence Yun, chief economist for NAR, current homeowners remain the biggest beneficiaries of the housing market, enjoying record-high real estate net worth. 

“Through real estate, more Americans are gaining financial security,” Yun said.  “Real estate net worth is on solid ground, based on the low delinquency rate and even lower foreclosure rate conditions.”

The Housing Forecast: 2025 and 2026 

Since mortgage rates remain stagnant, NAR downgraded its housing forecast for the remainder of 2025—but upgraded its forecast for 2026 on the expectation that rates will continue to come down.  Yun presented the following outlook for the housing market:

Existing-home sales:

• 2025:  +3%
• 2026:  +14%

New home sales:

• 2025:  +5%
• 2026:  +5%

Median home prices:

• 2025:  +1%
• 2026:  +4%

Mortgage rates:

• 2025:  6.7%
• 2026:  6%

Jobs:

• 2025:  +1.6 million
• 2026:  +2 million

Keep in mind this is a national forecast and traditionally Colorado Springs has exceeded the national average in terms of prices and sales.

As for first time buyers, they made up only 24% of the market last year—a record low, compared to the historical norm of about 40%.  However, they, too, are slowly returning, currently accounting for 30% of home purchases in May, according to Jessica Lautz, NAR’s deputy chief economist.  She attributed this to more stable mortgage rates (hovering around the mid to high 6% range since January) and increased housing inventory.

All-cash buyers stay strong:  they now make up over 25% of the housing market, with one-third of repeat buyers—primarily baby boomers—buying homes without a mortgage.  Many are using equity from prior home sales, Lautz reported.

Interestingly, Lautz noted that one in 10 first-time buyers are also paying all-cash for a home purchase, drawing from personal savings, inheritance, financial gifts from their parents and investments, like stocks and 401(k)s.

This is depicted below:

 

 

 

 

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:

 

https://youtu.be/IpnLvZWe818

 

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

 

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. 

 

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. 

June 26, 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.

 

 

LOWER INTEREST RATES, MORE INVENTORY AND YET…THE housing market IS STILL SLUGGISH

Yes, mortgage rates are lower—down to 6.81% this week—and there is more inventory as folks are listing their homes for countless reasons, but homes sales are still sluggish.

Existing home sales did increase nationally by 0.8% in May and here in Colorado Springs for all listing types by 0.3% also in May, but affordability remains a challenge compared to six years ago.

Here is a chart that was in The Wall Street Journal this week depicting this:

 

 

While the spring buying and selling season is usually the busiest time of year for Residential real estate, this year has proven to be the third straight year of anemic sales during this period.

For a long while, inventory was one of the biggest problems in slowing the market, but as I mentioned earlier, inventory is up for a number of reasons.  At present there are half a million more sellers than buyers nationally. However, what could and should be a buyer’s market is not panning out to be so.

Prices are just too high, and interest rates were also up and that’s kept folks from wanting to buy to trade up and most especially to buy for the first time.  It’s also keeping investors away at the present time as well.

If this all sounds like a lot of bad news, well it could be.  But if you know me at all, you know I’m an eternal optimist and I’ve been quoted as saying, “If there’s a will, there’s me”!

What that translates to is that 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.

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.

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. 

And, as I also mentioned earlier, there are more properties on the market at present so as a buyer you can use that to your advantage.

NOW is the best time to start your search if you’ve even considered a move in the last year or more.  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.

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…one final thing…

I’d like to wish everyone a very happy and safe July 4^th holiday. 

 

WHY YOUR HOME’S ASKING PRICE MATTERS MORE TODAY…an infographic

KeepingCurrentMatters, 6.24.25

The best way to make sure this doesn’t happen to you?  Call Me. 

I know the value of homes in your area and will know the condition of your home.  I also know the value added by any updates you’ve made and the current buyer demand.

If you want a proven pricing strategy that works in today’s market, I’ve your man. 

Call me at 719.593.1000 and let me get you the answers to all your Residential real estate questions…be it pricing or whatever.  I’m here to assist in any way I can.

 

ERA SHIELDS STAT PACK

Data through May 2025, ERA Shields

Here is 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.

June 4, 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’S TALK A BIT ABOUT INTEREST RATES

I seem to get more and more questions about interest rates and what I think is happening or going to happen.

To be quite honest, I have no idea. 

But, when asked about the 3% interest rates of a few years ago I DO have a response.  We’re not going to see those again in a very very long time, if ever.

Those rates were never meant to last.  They were a short-term response to a very specific moment in time and as the market started finding it’s footing again, it was time for a reset.

In 2020 and 2021, 3% mortgage rates gave buyers a serious boost of more affordability, more buying power and more opportunity.  But those were the result of emergency economic policies put in place during the height of a global pandemic. 

Now that the economy is in a different place we’re seeing mortgage rates normalizing in the high 6% to low 7% range.

While currently most experts project a slight easing in the months ahead, most industry leaders agree with me—rates are not going back to 3%.

As I’ve been saying for some time now, waiting for 3% interest rates to return is futile.  And while you’re waiting, home values keep appreciating so that makes it harder to buy later than it might be today.

As you will see in the statistics below, home values are continuing to hold their own and even increase.  Some months more than others, but they are NOT going down and aren’t likely to do so.  This is especially true in a desirable area like Colorado Springs which is attracting new folks more and more due to our great work/life balance.

If you’ve been putting off your home search while waiting for interest rates to fall, you will be waiting a very long time.

There are a number of options available when it comes to interest rates these days and a realtor like me with a background in investment banking can help you find just the right financing for your individual needs and budget if at all possible.

And, if the rates do go down at some later date, you can always refinance as your home will likely have appreciated in value.

With the spring buying and selling season in full swing, NOW is the best time to start your search 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 now for statistics…

 

MAY 2025

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

Here are some highlights from the May 2025 PPAR report: 

 

In El Paso County, the average days on the market for single family/patio homes was 38.  For condo/townhomes it was 54. 

 

Also in El Paso County, the sales price/list price for single family/patio homes was 99.5% and for condo/townhomes it was 99.2%. 

 

In Teller County, the average days on the market for single family/patio homes was 65 and the sales/list price was 98.3%.

 

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 2025 to May 2024 for All Homes in PPAR:

                       

                        Single Family/Patio Homes:

• New Listings were 2,048, Up 10.8%
• Number of Sales were 1,166, Up 2.1%
• Average Sales Price was $566,304, Up 1.7%
• Median Sales Price was $490,000, Down 1.8%
• Total Active Listings are 3,671, Up 38.8%
• Months Supply is 3.1

 

 

Condo/Townhomes:

• New Listings were 272, Down 9.9%
• Number of Sales were 166, Down 9.3%
• Average Sales Price was $364,586, Down 1.7%
• Median Sales Price was $341,000, Up 0.3%
• Total Active Listings are 629, Up 27.8%
• Months Supply is 3.8

 

MAY 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 0.3%

 

• Median Sales Price for All Properties was Up 1.0%

 

• Active Listings on All Properties were Up 27.7%

 

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 in order to get a good idea of the local pulse.  As an example, here is a detailed report on the Colorado Springs area:

 

WHY SOME HOMES ARE SELLING FASTER THAN OTHERS

KeepingCurrentMatters, 5.7.25

As you already know, in most markets, including ours, things have slowed down a bit and while you may remember how quickly homes sold a few years ago, that’s not what you should expect today.

And now that inventory has grown, according to Realtor.com, homes are taking a bit longer to sell in today’s market.

However, we are only looking at around a 10 day differential compared to the last few years and Realtor.com puts it this way:

“In April, the typical home spent 50 days on the market…This marks the 13^th straight month of homes taking longer to sell on a year-over-year basis.  Still, homes are moving more quickly than they did before the pandemic…”

By this comparison, if your home takes a bit longer to sell this year, it’s not really a concern.

It comes down to having the right strategy and of course, a broker like myself on your side.

 

1. Price it Right.  One of the biggest reasons homes sit on the market is overpricing.  Most sellers want to list higher thinking they can lower it later—but the backfires by turning buyers away.

 

2. Focus on the First Impression.  A messy yard or a home that needs paint?  It’s going to turn off buyers since they decide within seconds whether they like a house.

 

3. Strong Marketing and High Quality Listing Photos.  If your listing doesn’t look professional, you could have trouble drawing in buyers who think you’re trying to cut corners.

 

4. The Location of the Home.  You know how I always talk about taking location into consideration in all things real estate?  Well, it applies here too in that some neighborhoods just tend to sell faster than others.

 

But here is the bottom line—you want the most money in your pocket in the shortest amount of time with the least amount of stress. 

When you hire me, it’s my job to make certain that all of these bases and more are totally covered before we even list your home on MLS.  I know how to properly price and stage your home to help you get the best possible price in the shortest time possible.

Give me a call when you are ready, or even thinking of being ready, and let’s discuss how to get your home ready for market.

 

HOME PROJECTS THAT ADD THE MOST VALUE

KeepingCurrentMatters, 5.30.25

 

Some Highlights:

• Whether you’re planning to move soon or not, you want to be strategic about which home projects you take on since not all of them will be worth it.

 

• Before you decide what upgrades to tackle, talk to me so I can let you know what’s in demand in our area and where you are likely to best recoup the costs.

 

ECONOMIC & WORKFORCE DEVELOPMENT REPORT

Data-Driven Economic Strategies, May 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 May 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. 

May 27, 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.

 

 

YES, THE ECONOMY MAY BE GOING THROUGH SOME UPS AND DOWNS…BUT YOUR HOME APPRECIATION IS ONLY GOING ONE WAY…... UP.

For as long as I’ve been selling Residential real estate, I’ve been a believer and a personal buyer.  I could never sell something that I didn’t personally believe or personally invest in.

Having started my career in Investment Banking and going into Residential real estate more than 52 years ago, I can honestly say I know the financial and real estate markets inside and out and I study them each morning when my Wall Street Journal is delivered.  That’s just one of the reasons why I can not only find the best home fit for my clients but also can assist in finding the best financing options for them as well.

Over time, in all those years, local home values have continued to surpass the stock and bond markets--without fail. 

I’ll give you one personal example.  I purchased a rental property in July 2002 for $172,000.  When the long-time renter recently passed away, I decided it was time to sell that property.  Of course, it needed some updating and new appliances, etc. so I invested another $60,000 in the property before putting it up for sale. 

While it took considerably longer to sell in this current market, it sold for $450,000.  A good investment which also provided a nice monthly income for more than twenty years as it increased in value?  You bet.

I give you that example for several reasons. 

First, to show that I personally put my money where I believe it will give me the best return over time.

Secondly, to demonstrate that while it may take a bit longer in today’s market, homes ARE selling locally.

Colorado Springs and vicinity is fortunate in that it’s a place where folks find a work/life balance that is unbeatable and that’s why more and more companies are expanding and/or relocating here.  There are a number of folks that want to retire here as well.

With those company expansions and relocations come employees who need a place to live and that keeps me busier than many of my contemporaries in some other parts of the country.

That is also illustrated in the national survey information I have posted below.  Colorado Springs is showing greater median home price appreciation than a lot of the country.

I was pleasantly pleased to see that the surveys backed up what I had predicted last year when I said Colorado Springs would slowly move up nationally when it came to home price appreciation.  We moved up even faster than I expected.

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 while you wait. 

NOW is the best time to start your search if you’ve even considered a move in the last year or more.  You might 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.

 

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.

 

 

real estate VOTED AS BEST LONG-TERM INVESTMENT … 12 YEARS IN A ROW

KeepingCurrentMatters, 5.23.25

Some Highlights:

 

• In a recent Gallup poll, real estate has once again been voted the best long-term investment, a top spot it has claimed for 12 straight years.

 

• That’s because homeownership is one of the top ways to build your wealth, even with home price growth moderating and ongoing economic uncertainty.

 

• If you’ve been trying to decide whether it makes sense to buy a home today, give me a call and let’s see how we can make that a possibility that works for you and your family.

 

 

COLORADO SPRINGS RANKS #48 IN THE Q1 2025 FHFA HOUSE PRICE INDEX

Federal Housing Finance Agency, 5.27.25

 

The recently published FHFA House Price Index for first quarter 2025 lists Colorado Springs as #48 out of the top 100 in home price changes during that quarter.

Considering we were ranked at #75 in Q3 2024 and #87 in Q2 2024, that is a significant and very positive change which confirms our continued housing market strength.

Nationally, home prices were up 4.0% year-over-year according to the Federal Housing Finance Agency (FHFA) and up 0.7% compared to Q4 2024. 

These rankings are from the top 100 metro areas in the U.S. and Colorado Springs showed a 4.2% median price change year over year which is a bit better than the national average appreciation.

The Federal Housing (FHFA) House Price Index is a comprehensive collection of publicly available house price indexes that measure changes in single-family home values based on data that extend back to the mid-1970’s from all 50 states and over 400 American cities.  It incorporates tens of millions of home sales and offers insights about house price changes at the national, census division, state, metro area, county, ZIP code and census tract levels.

It is notable that home prices in 89 of the 100 largest metro areas rose over the previous four quarters.

Moving from a #75 ranking in Q3 to a #48 ranking shows that homes here are not only holding their values but increasing faster than the national average.

As I mentioned earlier, I had predicted that would happen in a newsletter last year and sure enough it did.

We are also considerably above #80 ranked Denver which is always fabulous news. 

Below are copies of the entire list as well as of the Colorado Springs changes.  Any questions?  You know where to reach me.

COLORADO SPRINGS IS ALSO RANKED #48 OUT OF 228 MEASURED METRO AREAS IN THE JUST PUBLISHED NAR SURVEY

The National Association of Realtors, 5.8.25

 

In the just published report from the National Association of Realtors (NAR), single-family, existing-home prices grew in 83% of measured metro areas.  This is down from 89% the previous quarter.

Compared to a year ago, the national median single-family existing-home price climbed 3.4% to $402,300.

Also compared to a year ago, the median price of single-family homes in Colorado Springs rose 3.5% to $464,700 per NAR, once again showing that we are doing better than the U.S. average and better than 180 of the 228 metro areas surveyed. This price reflects detached, single-family and patio homes but not townhomes or condominiums.  

The median home price increase in the Springs ranked 48^th highest of the 228 cities surveyed.  

To see all 228 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 April 2025, ERA Shields

Here is 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.