How do I price my Colorado Springs home without leaving money on the table?

Two ways to leave money on the table

Most sellers worry about pricing too low. That's a real risk in a hot market with few homes for sale. But in a balanced or buyer's market, the more common way to lose money is pricing too high. The home sits, you carry the costs, buyers start to wonder what's wrong with it, and the eventual price cuts can take you below where a well-positioned price would have landed.

I think of it as getting every dollar possible from the buyers who are actually in the market, not chasing a top-dollar number no one is shopping for.

How I arrive at a list price

We start with a comparative market analysis (CMA): recent sales of homes like yours, adjusted for differences in size, condition, location, and features. That's common. We take it a step further with a scattergram, a visual pricing system that plots comparable sales so you can see how long each comparable home sat on the market based on where it was priced. We're comparing like properties, so the pattern is meaningful.

From the same data, we can show statistics on the probability of selling at different price points. Nothing is guaranteed, but seeing the relationship between price and time on market helps you make the decision with your eyes open. For how a CMA compares with online estimates and an appraisal, see how to find out what your home is actually worth.

Where in the range to land: read the market

The same home can call for a different list price depending on the market:

• In a seller's market, with few homes for sale, buyers compete with each other and pricing is a little easier.
• In a balanced or buyer's market, you're competing for buyers. It's expensive to buy a home, and buyers are looking for value. They've been doing comparisons, and they recognize value when they see it. Your price needs to be positioned with that in mind.
• In the luxury upper end, it's natural for homes to sit longer, because there are fewer buyers at those prices.

As I write this in September 2026, Colorado Springs is not in a seller's market, and I wouldn't be surprised if we see these conditions for the next couple of years. That's my view, not a forecast anyone can guarantee. See whether Colorado Springs is a buyer's or seller's market for how to read the indicators yourself.

Should you start high and come down later?

It's an option. But in current market conditions, it's not what I recommend.

When you start high, you often miss the buyers looking at the slightly lower price point, because they're looking for value right now. You're trying to attract the buyer who is looking today, and that buyer is savvy. When you look at the statistics, you often get less when you start high, because you end up with death by price cuts.

The research isn't perfectly one-sided, and a list price slightly above the comparable sales doesn't always backfire. But homes that sit longer tend to sell further below their list price. A Zillow analysis of U.S. listings found that homes on the market about two months typically sold around 5% below list price, and homes on the market about 11 months around 12% below. That's national data from 2016, not a Colorado Springs forecast, but the pattern matches what the scattergram shows locally: price drives time on market.

For when a reduction makes sense, see how long your home should take to sell.

Price is one of three things that sell a home

I describe getting a home sold as three elements: price, preparation, and presentation.

• Price: a data-informed approach, positioned with value in mind, and monitored against the competition every day.
• Preparation: the condition buyers see when they walk in. See how to prepare your home to sell.
• Presentation: the marketing, including photos, video, and telling the story of the lifestyle the home offers.

People have to move on with their lives, and life transitions are real. That's why choosing the right teammate to position your home matters. An agent who tells you only what you want to hear about price does you a disservice. See how to choose a listing agent.

What's specific to Colorado Springs

The appraisal has to support the price. Most buyers here use financing, and VA loans are especially common in Colorado Springs. A lender's appraisal has to support the contract price, or the deal usually has to be renegotiated. On VA loans, the VA's Tidewater process lets the appraiser alert the lender before finishing a report that looks likely to come in below the contract price, and the parties get two business days to submit more comparable sales. That window helps only if recent closed sales actually support your price, which is one more reason to price from the data.

Your assessed value isn't a list price. El Paso County's current assessed values are based on sales from an earlier data period, not today's market. The number on your notice of value can be higher or lower than what a buyer would pay now. See how to appeal your property assessment for how that valuation works.

Neighborhood and price range matter. A price that works in one part of town or one price band may not work in another, especially at the upper end, where there are fewer buyers and homes naturally take longer.

A simple way to decide

• If your home is similar to recent sales nearby, price near where comparable homes sold quickly, not where they started.
• If you're competing with several similar listings, consider positioning slightly below them so yours looks like the better value.
• If your home is unique or in the luxury range, expect a longer timeline and plan your carrying costs around it.
• If you need to sell by a certain date, let the odds of selling at each price guide you toward a number that fits your timeline.
• If you're not sure what the market is doing, start with the months of inventory and recent days on market in your price range before you set a number.

What could change the answer

• Market shifts. Interest rates, inventory, and seasonal changes can move the right price within weeks.
• Condition and preparation. A home that shows well can support a stronger price than one that needs work.
• Your timeline. A firm move date or carrying two homes can make a faster sale worth more than a slightly higher price.
• New competition. A comparable listing that comes on at a lower price can change your position overnight.
• The appraisal. If recent sales don't support the contract price, the price may need to change at the appraisal stage.

When to talk with a professional

About the author

Weldon Hobbs is a Colorado Springs REALTOR® and co-founder of Team Hobbs Realty. He is a member of The Platinum Group, REALTORS®, Colorado Springs' #1 independent brokerage, which pairs deep local expertise with premium marketing exposure. A U.S. Air Force Academy graduate and retired Air Force veteran, he and his family made more than 10 military moves. Since 2006, he and his wife, Kristen, have bought and sold their own homes, managed a portfolio of rental properties, and guided others through their own real estate decisions. He has also helped both family members and clients downsize, where the decisions are often complex and the process can feel overwhelming. Drawing on his background as a PMP® (Project Management Professional), he helps people break those decisions into clear, manageable steps.

Since beginning his real estate career, he has ranked in the top 7% by sales volume among the more than 4,000 members of the Pikes Peak Association of REALTORS®. He works with military families, seniors and downsizing clients, luxury and premium home sellers, and people relocating to Colorado Springs. He developed the Life → Wealth → Real Estate™ method, hosts the national YouTube channel Life & Real Estate Without Regret, and holds an MBA along with the SRES® (Seniors Real Estate Specialist®), MRP (Military Relocation Professional), and Certified Financial Coach credentials. More about Weldon

Sources

• Zillow, Who Pays When a Home Is Overpriced? Sellers Do (2016 analysis of list price and time on market): https://www.zillow.com/pro/overpriced-homes-who-pays/
• U.S. Department of Veterans Affairs, VA Lender's Handbook (VA Pamphlet 26-7), Chapter 10 on appraisals: https://www.benefits.va.gov/WARMS/pam26_7.asp