Each month, I like to pause and look past the day-to-day of showings and closings to see what the numbers are really saying. August was, in most respects, a market behaving exactly as late summer should, with a few nuances worth your attention.
The headline numbers
Sales across the Pikes Peak MLS region were down about 6% from August last year. Inventory is up 3.6% year over year, though it has held essentially flat since July. The average sale price dipped 3.3%, a typical seasonal softening, though a portion of it reflects sellers who priced ambitiously in the spring and have yet to bring their price down to meet the market.
A market of two speeds
The most telling detail from August is the divide in how homes are performing. Well-priced, well-presented homes are going under contract in under ten days. Buyers are decisive when a home reflects today’s conditions. Meanwhile, a good share of listings are sitting 75 days or more, as sellers gradually chase the market down to find the price buyers are actually willing to pay. This second path rarely serves the seller well.
Also worth noting: more than 67% of homes that closed in August included a seller concession, with a median value of $10,000. This is now standard practice here, not the exception.
Takeaways
For buyers: you have real negotiating power right now. Longer time on the market and rising concessions are working in your favor. Approach it with a clear strategy and let a well-prepared offer do its work.
For sellers: this is a moment for discipline. A home priced correctly from day one is still finding buyers quickly and with little negotiation. A home priced to “test the market” risks joining the growing group sitting well past two months and typically nets less in the end than a realistic price would have. If you’re planning to list this fall, I would be glad to walk you through current comparables and set a strategy suited to today’s market.
I’m always happy to discuss how these trends apply to your street or situation specifically.
Data sourced from the Pikes Peak REALTOR® Services Corp. Statistics are for the Pikes Peak MLS area and reflect August 2026 activity.
