Recent market observations suggest that Colorado Springs has maintained a relatively stable trend compared to Denver. Instead of sharp fluctuations, a gradual increase has been noted.

According to Zillow data, the current average home value in Colorado Springs is approximately $451,000 as of May 2026. Five years ago, in early 2021, it was around $335,000, indicating an increase of about 35% over the five-year period.

During the same period, the average increase across the United States was in the range of 38-40%. Colorado Springs appears to have recorded a rate of increase similar to or slightly lower than the national average.

Looking at the yearly trends, from 2021 to the first half of 2022, prices rose rapidly due to pandemic-related migration demand and low interest rates.

From the second half of 2022 to 2023, the rate of increase noticeably slowed due to the impact of rising interest rates, and a gradual adjustment trend is expected to continue after 2024. In the past year, a decline of about 2% has been observed, indicating a shift towards a buyer's market.

Factors contributing to the rise in Colorado Springs include military-related facilities such as Peterson Space Force Base, defense industry jobs, a steady influx of population over recent years, and relatively affordable prices compared to Denver, which have consistently attracted genuine demand. However, the area has seen relatively active new housing supply, so the pressure for rapid price increases due to supply shortages has been less significant compared to other regions.

Future outlooks should be approached cautiously. With recent inventory levels increasing and a shift towards a buyer's market, prices are likely to adjust gradually or remain stable for the time being. Unless interest rates decrease significantly, the potential for a sharp rebound is expected to be limited.

For Korean households, the recent adjustment phase may present a favorable time for purchasing a primary residence. If considering this area due to military-related jobs or relocation from other states, utilizing negotiation opportunities now that inventory has increased could be beneficial. Conversely, if considering selling, it may be realistic to set price expectations somewhat conservatively, given the market's shift towards buyers.