Well-priced homes still sell in about five weeks. The rest are sitting, cutting price and paying concessions.
The short answer: Heading into winter, the north end is a market that rewards accurate pricing. There are 593 active listings across Monument, Black Forest and Northern Colorado Springs, about 4.9 months of supply. Homes that sold over the past year went under contract in a median of 38 days, but today's active listings have been on the market a median of 94 days, and 62% of them have already cut their price. More than half of all sales included seller concessions. For buyers, that means real room to negotiate, especially above $1.5 million.
By Brennan Wolff, Broker, Realtor®
Every month I pull the full MLS data for our three areas. This month's snapshot was taken November 1 and covers 693 listings, plus every closed sale over the past 12 months. Here's what it says.
The five things the data is telling us
1. The market has split in two. Homes that sold over the past year went under contract in a median of 38 days. Homes on the market right now have been listed a median of 94 days. The difference is almost always price. Buyers are moving quickly on homes priced to today's market and waiting out the rest.
2. Price cuts are the norm, not the exception. 62% of active listings have reduced their price at least once. In Monument it's 67%.
3. Concessions are part of most deals. 57% of closed sales over the past year included seller concessions, with a median of $10,000. In Black Forest, 61% of sales included concessions, with a median of $12,000. Buyers are asking for help with closing costs and rate buydowns, and sellers are saying yes.
4. The top of the market has the most supply. Above $1.5 million, there are about 10.8 months of supply across all three areas. In Black Forest, 56 homes are listed above $1.5 million, compared with 48 sold at that level in the past 12 months. That's about 14 months of supply. Between $1 million and $1.5 million, the picture is much tighter, at about 4.2 months.
5. Fall has softened things a little. Homes that closed from August through October sold for a median of 96.4% of their original list price, compared with 97.3% over the prior nine months. Median days on market for those sales rose from 37 to 45. It's a normal seasonal slowdown, not a sharp turn.
Monument (80132)
Monument was the most active of our three areas over the past year, with 573 closed sales.
- Median sale price: $767,500, or about $221 per square foot
- Median days on market for sold homes: 32
- Sellers received: a median of 97.5% of their original list price
- Supply: 205 active listings and 29 pending, about 4.3 months of supply
- Price cuts: 67% of active listings have reduced their price
The tightest part of Monument is under $600,000, at about 3.5 months of supply. New construction makes up about 24% of active listings, and new homes on the market have been listed longer than resale homes. The Tri-Lakes area guide covers the neighborhoods in more detail.
Black Forest (80908)
Black Forest was right behind, with 568 closed sales over the past year.
- Median sale price: $650,000, or about $239 per square foot
- Median days on market for sold homes: 47
- Sellers received: a median of 96.6% of their original list price
- Supply: 269 active listings and 45 pending, about 5.7 months of supply
- Price cuts: 57% of active listings have reduced their price
Black Forest's median price runs below the other two areas because the zip code includes a large share of newer construction at lower price points. New construction makes up about 39% of active listings, with a median asking price of $619,900, compared with $879,900 for resale homes. Acreage properties of 2.5 acres or more sold for a median of $1,085,000, with about 6.7 months of supply. The $1 million to $1.5 million range is the healthiest part of the luxury market here, with 28 active and 10 pending. See the Black Forest area guide for more.
Northern Colorado Springs (80921)
The Northgate area had 325 closed sales over the past year.
- Median sale price: $750,000, or about $212 per square foot
- Median days on market for sold homes: 35
- Sellers received: a median of 97% of their original list price
- Supply: 119 active listings and 25 pending, about 4.4 months of supply
- Price cuts: 64% of active listings have reduced their price
This area saw the biggest fall slowdown. Homes that closed from August through October sold for a median of 95.3% of their original list price, compared with 97.1% earlier in the year. Under $600,000 remains tight, at about 3 months of supply.
What this means if you're selling
- Price for today's market from day one. The gap between 38 days and 94 days is mostly a pricing gap. My post on how to price your home to sell explains how I approach it.
- Plan for concessions. With more than half of buyers asking for help, building room for a credit into your plan is realistic. A credit toward a buyer's rate buydown can do more than the same dollars off the price.
- Know your competition. In Black Forest and Monument especially, you may be competing with builders. This post on builder incentives explains how buyers compare the two.
- Above $1.5 million, be patient and precise. Supply is high, and buyers at that level are taking their time.
What this means if you're buying
- You have room to negotiate, especially on homes that have been listed for a while or have already cut their price.
- Ask for concessions. They're part of most deals right now.
- Well-priced homes still move. Under $600,000 in Monument and Northern Colorado Springs, supply is tight. If a good home comes up, don't assume it will sit.
- Winter can work in your favor. Fewer buyers are out, and sellers who list now usually need to move.
Frequently asked questions
Is it a buyer's or seller's market in Monument and Black Forest? It's fairly balanced overall, at about 4.9 months of supply, but it varies by price. Under $600,000 leans toward sellers. Above $1.5 million, buyers have the advantage.
Are home prices dropping in Black Forest? Not broadly. Sellers are still receiving a median of about 97% of their original list price, but more listings are cutting prices and offering concessions to get there.
How long does it take to sell a home on the north end right now? Homes that sold over the past year went under contract in a median of 38 days. Homes priced above the market are taking much longer.
Are sellers paying closing costs? Often. 57% of sales over the past year included seller concessions, with a median of about $10,000.
Want a read on your neighborhood?
These numbers cover three zip codes. Your street, price point and property type can tell a different story. I'm happy to walk through what the data means for you. See the full Market Update, request a home valuation, or reach out to me directly.
Source: Pikes Peak MLS, snapshot as of November 1, 2026, and closed sales from November 2025 through October 2026. Analysis by Wolff Real Estate Group. Data is deemed reliable but not guaranteed.