COLORADO SPRINGS, Colo. (KOAA) — Inventory continued to grow across the El Paso County housing market in April, giving buyers more options while sales activity remained steady compared to a year ago, according to new data from the Pikes Peak Association of REALTORS.
There were 2,533 single-family and patio homes listed for sale in April, a 12 percent increase from March, according to the association. During the month, 933 homes sold, up 1 percent from March and slightly above the 922 homes sold in April 2025. The median sales price climbed to $485,000.
“Buyers across the Pikes Peak region are continuing to see more choices and less urgency, while sellers are still achieving solid prices when they list competitively,” said Andrea Warner, board president of the association and owner of Colorado Peak Real Estate.
Warner said the increase in listings and sales activity suggests buyers are becoming more comfortable with current mortgage rates after months of waiting for rates to fall. According to Freddie Mac, the interest rate for a 30-year mortgage average is 6.37% this week.
“What that shows to me is that buyers are starting to have a little bit more faith in our market,” Warner explained. “Sitting on the sidelines isn’t really smart, waiting for interest rates to drop. I think they finally realized that the interest rates that we have right now are good rates, and it’s time to buy.”
The average number of days homes spent on the market fell to 51 days in April, down from 58 days in March, though still above the 44-day average recorded in April 2025.
Warner said the market has become more balanced than in recent years, allowing buyers more time to compare neighborhoods and homes rather than rushing to make offers.
“Now they can slow down, take their time so they have a little bit more faith in the market,” she said.
She added that increased inventory has also made buyers more selective, forcing sellers to pay closer attention to pricing and presentation.
“They can’t just put a sign in the front yard and think it’s going to sell overnight,” Warner added. “They actually have to make sure that everything is on point — staging, making sure the house looks really top-notch, and the pricing is really important.”
While affordability remains a challenge for many first-time buyers, Warner said financing programs and down payment assistance options are helping some buyers enter the market.
“There’s so many different types of mortgage options out there for first-time home buyers,” she said. “A lot of first-time home buyers feel like there’s no way I could ever achieve the American dream of homeownership.”
Click here for more tips from a local expert on buying your first home.
Warner said she encourages prospective buyers to work with a realtor and lender to better understand available programs and financing options.
“Homeownership just continues to be one of the strongest long-term tools of building wealth and financial stability,” she said.
Many unhappy with CDOT's proposed Highway 24 and Judge Orr Road change to roundabout
Big changes are on the way to the Judge Orr Road and US Highway 24 intersection in Peyton.
____
Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.
