The picture, today

There are 819 listings on the market right now across our three service area zip codes. 580 are active. 133 are pending. 106 are under contract. The median asking price across all of it sits at $825,000.

That's the headline. The story underneath it is more useful.

41.6% of those active listings have already taken at least one price cut, with a median reduction of 3.8% off the original list price. That's not a market-wide problem — it's a pricing problem. Homes that came out priced right are not on the active list anymore. They're in the pending and under-contract columns, where the median days on market is 26 and 18 respectively. Active inventory, by contrast, sits at 44 days median.

Read that gap again: 44 days on market for what's still available, versus 18 days for what's already gone under contract. Well-priced homes are moving in under three weeks. Overpriced homes are sitting, then cutting, then sitting some more.

What sold over the last 12 months

From May 2025 through April 2026, 1,391 homes closed across 80921, 80132, and 80908. The median sale price came in at $731,000 — about $239 per square foot. The median time from list to closing was 78 days end to end: 49 days from listing to an accepted offer, then another 29 to actually close.

The sale-to-list ratio held at a remarkably consistent 99% across all three zip codes. That number tells you something important about negotiation: in this market, the leverage isn't in the headline price reduction. It's somewhere else.

It's in concessions.

The hidden price reduction nobody talks about

54.4% of closed sales over the last 12 months included seller concessions. The median concession when present was $11,000. The mean across all sales — including those without concessions — was about $9,500.

Break it down by financing and the picture gets sharper:

• FHA buyers: 84% received concessions. Median $19,000.
• VA buyers: 66% received concessions. Median $11,000.
• Conventional buyers: 57% received concessions. Median $10,100.
• Cash buyers: 20% received concessions. Median $2,700.

If you're a seller looking at last year's median sale price and thinking that's what you'll net, you're missing roughly $9,500 to $19,000 of effective price reduction depending on who buys your home. That money came out of the seller's check at closing — it just didn't show up on the headline price.

This is where Wolff has spent a lot of time over the last year, and it's why we work the structure of an offer just as hard as the number on top.

Zip-by-zip

80921 (Northern Colorado Springs, Air Force Academy area): The most expensive of the three on a per-home basis. Median active list price is $840,000; median closed sale was $758,000. 12-month closed sales total: 328. Median DOM at close was 32 days — the fastest of the three areas. Inventory is heaviest in the $750K-$1M and $1M-$2M tiers.

80132 (Monument): Sits squarely in the middle. Median active list price is $850,000; median closed sale was $750,000. 12-month closed sales: 505 — the highest volume of the three. School District 38 is a meaningful driver here, and inventory skews toward newer construction in the 2010s and 2020s decade.

80908 (Black Forest): Lowest median absolute price ($740,000 active, $675,000 closed) but the highest median price per square foot at $251 list, $239 sold. The reason: smaller homes on smaller lots than the area's reputation suggests. Median lot in the closed data is 0.23 acres. The "big land" Black Forest story exists, but it's a smaller slice of the market than people assume.

What this means if you're selling

Pricing right the first time is doing more work than ever. The 26-day spread between active and under-contract DOM isn't an accident — it's the market sorting accurately-priced homes from aspirationally-priced ones. The cost of getting it wrong isn't just time on market. It's the price reduction you'll eventually take, plus the concessions you'll likely pay on top of that. Both come out of the same check.

If you're listing in the next 90 days, the question worth asking isn't "what's the highest number we can ask?" It's "what number gets a serious offer in the first 30 days, and what concession structure protects me at close?"

What this means if you're buying

Concessions are real, and they're available — especially if you're using FHA or VA financing. The 99% sale-to-list ratio shouldn't scare you off. That's after concessions, not before. The actual all-in negotiation is happening in the structure of the deal more than in the headline price.

If you're relocating from out of area — and a lot of you are right now, especially with PCS season — understanding the concession dynamic before you write your first offer is one of the bigger cost-of-bad-advice scenarios in this market.

A note on the dashboard

Every number in this post comes from our local MLS data, which we publish in interactive form on the Market Update page. You can filter by zip code, switch between the active snapshot and the trailing 12 months, and explore the underlying distributions yourself.

If you want to talk through what any of this means for your specific situation, the conversation is free and the read is honest.

— Brennan & Greg Wolff, Realtors® Wolff Real Estate Group · Independent and family-owned, serving Northern Colorado Springs, Monument, and Black Forest.