COLORADO SPRINGS, Colo. (KOAA) — The Pikes Peak region’s housing market is showing signs of a seasonal slowdown, with more homes available for buyers and prices holding relatively steady in El Paso County, according to October 2026 data from the Pikes Peak Association of REALTORS.
El Paso County’s average single-family home sales price was $551,604 in October, up 4.4% from $528,336 a year earlier. However, that figure was down slightly from September’s average of $554,263. The number of single-family homes listed for sale increased to 3,126, up from 2,866 in October 2025. Condo and townhome listings also increased, from 575 to 614. Meanwhile, closed single-family home sales declined from 711 a year ago to 652 in October. Homes spent an average of 56 days on the market, compared with 52 days last year.
Despite reports describing Colorado’s housing market as essentially frozen, Andrea Warner, board president of the Pikes Peak Association of REALTORS, said El Paso County is performing better than the statewide market.
“I don't think it's frozen,” Warner stated. “I just think it's very common for this time of the year and that we're seeing slower sales.”
Warner said buyers have more choices and greater negotiating power, with some asking sellers for larger concessions to help offset higher mortgage interest rates. The changing conditions also mean sellers can no longer expect homes to attract multiple offers immediately.
“They actually really have to be smart about pricing,” Warner said of sellers. “They really have to be smart about making sure that their house is top-notch because they're comparing, competing their house with everyone else that's on the market.”
Condos and townhomes continued to provide a lower-priced option for buyers in El Paso County. Their average sales price was $349,110 in October, down 2% from $356,307 a year earlier but up 8.8% from September. Warner said she believes the current market offers opportunities for buyers who have been waiting to purchase a home, despite mortgage rates remaining higher than many would prefer.
“If buyers are waiting on the fence thinking that they can get, you know, below 6, or even below 6.5%, you know, I would say, you know, please do your homework,” Warner said. “Sitting on the fence waiting for below 6% interest rates is just not gonna happen. This is our new normal.”
Warner described the current market as more balanced than the pandemic-era housing market, when sellers held much of the negotiating power.
“I still feel like a healthy market is when it benefits both parties,” Warner added. “During COVID, it did not benefit both. It was a one-sided seller's market. It was hard for the buyers.”
She said buyers and sellers now need to be prepared to negotiate and approach transactions with realistic expectations as the market moves into the holiday season.
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