Is Southwest Colorado Springs, CO a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Southwest Colorado Springs has remained a Buyer's Market.
Key Takeaway
Southwest Colorado Springs is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest Colorado Springs, CO
How much do homes in Southwest Colorado Springs, CO cost?
Median Sold Price
$507,000
$224/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Key Takeaway
Homes in Southwest Colorado Springs have sold for 36.6% less than they did a month ago.
Summary: The median home sold price in Southwest Colorado Springs was $507,000 in May 2024, down 36.6% from last month, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $155K | N/A |
| 2 Bedrooms | - | $255K | N/A |
| 3 Bedrooms | $800K | $380.5K | -52.4% |
| 4 Bedrooms | $625K | $536K | -14.2% |
| 5+ Bedrooms | $1.7M | $1.0M | -39.7% |
Summary: Southwest Colorado Springs housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 52.4%, 4 bedroom homes decreased by 14.2%, and 5+ bedroom homes decreased by 39.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Broadmoor | $705K | $1.1M | +68.1% |
| Southwest Colorado Springs | $800K | $507K | -36.6% |
| Broadmoor Bluffs | $1.6M | $1.0M | -38.3% |
Housing Supply in Southwest Colorado Springs, CO
How many homes are available in Southwest Colorado Springs, CO?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 156 | 225 | +44.2% |
Summary: The Southwest Colorado Springs real estate market had 225 homes for sale in May 2024, a 44.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 28 | 52 | +85.7% |
| 3 Bedrooms | 30 | 38 | +26.7% |
| 4 Bedrooms | 46 | 72 | +56.5% |
| 5+ Bedrooms | 40 | 50 | +25.0% |
Summary: The Southwest Colorado Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 85.7%, 3 bedroom homes increased by 26.7%, 4 bedroom homes increased by 56.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 17 | +112.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest Colorado Springs, you may be able to get a good deal. 47.1% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Southwest Colorado Springs in May 2024, up by 112.5% month-over-month. Of the 17 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.
Days on Market for Southwest Colorado Springs, CO
How long does it take to sell a home in Southwest Colorado Springs, CO?
Average Sale Time
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 37 Days | -31.8% |
Summary: Homes in Southwest Colorado Springs had an average of 37 days on market in May 2024, down by 31.8% compared to last month.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest Colorado Springs are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in Southwest Colorado Springs; 65% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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