Right now, the Colorado Springs housing market is best described as cooling but balanced, leaning slightly in favor of buyers in some price ranges.

Here is the big picture as we head through December:

Inventory has climbed to some of the highest levels in more than a decade, giving buyers more choice.

Prices are slightly softer than a year ago in many segments, but not collapsing.

Homes are taking around 2 months to sell on average, instead of a weekend.

Recent reports show that Colorado Springs has roughly 4 and a half months of supply, which is very close to what economists consider a balanced market. The median price has dipped a bit year over year in some data sets, yet monthly numbers still show small bumps up and down rather than a straight fall.

What this means for you:

Buyers get more breathing room and negotiating power.

Sellers can still get strong prices if they price and present their homes correctly.