Is Now a Good Time to Move Up to a Bigger Home on the Westside?

What today's mortgage rates and loosening inventory actually mean for growing families ready to trade up in 80904, 80905, 80906, 80907, and 80919.

I got three calls last week from families in almost the exact same spot: a growing family, a home office moonlighting as a nursery, and a garage packed so tight with storage bins you can't fit a car in it. Every one of them asked me some version of the same question. Is now actually a good time to move up to a bigger house, or should we wait this out?

Here's my honest answer, built on the numbers I'm looking at this week, not a sales pitch: for the right family, yes, now is a genuinely good window, better than it's been in a couple of years. The 30-year fixed closed last week at 6.57%. That's not the 3% some of you locked in back in 2021, and I'm not going to pretend otherwise. But rates have held in a narrow 6.5% to 6.9% band for months now, and the Mortgage Bankers Association expects them to average right around 6.5% clear through 2028. If you're waiting on a dramatically lower rate before you move up, you may be waiting a long time. The rate isn't going to make this decision for you, so it has to get made on the merits of your actual situation.

What has genuinely changed for the better is inventory. Colorado Springs is sitting at roughly 3.8 months of supply right now, a real shift from the tight seller's market a few years back when move-up buyers were routinely getting outbid on the larger homes they needed. Westside homes are averaging 58 days on market before they go under contract, compared to a 45-day national average, which tells me sellers here are more willing to negotiate than they were even a year ago. If you've been putting off the search because you assumed you'd be competing against ten other offers on every four-bedroom listing in Rockrimmon, that's less true today than it's been in years.

There's a connection worth naming here. A lot of the larger, updated homes hitting the market right now are coming from Westside sellers who are rightsizing, longtime owners moving into something smaller and easier to manage. Those homes, the ones with the finished basements, the fenced yards, and the extra bedroom that used to be a sewing room, are frequently exactly what move-up families are hunting for. It's a good season to be looking, whether you realized it or not.

Where the move-up inventory actually is on the Westside

Not every zip has the same bench of larger homes. Rockrimmon and the Flying W area in 80919 have the deepest supply of updated four-bedroom-plus homes with real yard space, at a median sale price running $626,250. Broadmoor and Cheyenne Mountain in 80906 have bigger lots and older larger homes, some needing work, at a median of $630,000. Old Colorado City and the foothills side of 80904 turn over less often, but occasionally surface an updated larger home worth moving on fast, at a median of $486,200. If you're set on staying west of I-25 for the foothill access, knowing which pocket to watch matters as much as knowing your budget.

Even with more inventory, the good ones still move fast

More supply citywide doesn't mean zero competition. A well-priced four-bedroom in a strong school boundary can still draw multiple offers in a single weekend, especially in 80919. This is where a clean, well-structured offer, not necessarily the highest number, tends to win, and it's a big part of why buyers with fewer contingencies have the edge right now.

The financing math nobody explains well

Qualifying for a bigger mortgage while you're still carrying your current home's payment is the part that stresses people out the most, and for good reason. Lenders look at your debt-to-income ratio with both payments in the picture unless you already have a firm, signed contract to sell. This is exactly where having an ABR (Accredited Buyer's Representative) in your corner matters. Part of my job is helping you and your lender build a realistic offer strategy before you fall for a house you're not actually positioned to carry yet.

If you're racing a school year deadline

A lot of the move-up families I talk to have a hard deadline attached, usually a new school year or a baby on the way. With Westside homes averaging 58 days on market, a listing that goes under contract today can realistically close in 30 to 45 days. That's workable if you start the process now instead of in July. It gets a lot tighter, and a lot more stressful, if you wait until the deadline is already on top of you.

The families I'm working with who've outgrown their first home aren't waiting for perfect conditions, because perfect conditions in this market don't exist. They're using the fact that inventory has loosened and rates have held steady to actually get a good look at their options before deciding. That quiet "did we buy too small the first time" feeling gets a lot less loud once you're standing in a home that actually fits your life. If you're one of the families wondering whether this is your window, let's talk through your specific numbers before you assume anything either way.

Frequently Asked Questions

Is now actually a good time to move up, or should we wait for rates to drop?

For most move-up families, yes. The 30-year fixed is holding around 6.57%, and most forecasts have it staying near 6.5% through 2028, so waiting for a dramatically lower rate is unlikely to pay off. Meanwhile inventory has loosened to a 3.8-month supply citywide, giving you more real choices than move-up buyers had a couple of years ago.

How much competition will we face for larger homes on the Westside right now?

Less than you'd think citywide, but it varies by zip. Westside homes are averaging 58 days on market versus a 45-day national average, meaning sellers are more willing to negotiate. That said, a well-priced four-bedroom in a strong school boundary, especially in 80919, can still draw multiple offers in a weekend, so a clean, well-structured offer still matters.

Can we qualify for a bigger mortgage while we're still carrying our current home's payment?

It depends on your debt-to-income ratio with both payments counted, unless you already have a signed contract to sell your current home. This is where working with an ABR-designated agent helps. I can walk through realistic financing scenarios with you and your lender before you start touring homes, so you know your real ceiling.

We need to close before the school year starts. Is that realistic in this market?

It can be, if you start now rather than waiting until the deadline is close. With Westside homes averaging 58 days on market and typical closings running 30 to 45 days after going under contract, a family that starts seriously looking today has a realistic shot at closing before a new school year, especially if you're pre-approved and ready to move on the right listing.

Which Westside neighborhoods have the most move-up inventory right now?

Rockrimmon and the Flying W area (80919) currently have the deepest bench of updated four-bedroom-plus homes with yard space, at a median sale price around $626,250. Broadmoor and Cheyenne Mountain (80906) offer larger lots and older larger homes, some needing updates, at a median of $630,000. Old Colorado City and the foothills side of 80904 have thinner but occasionally excellent inventory when an updated larger home surfaces.

Wondering if this is your window to move up?

About Les Goss

Les Goss is the founder and President of Colorado Peak Properties, associated with Metro Brokers, specializing in the Westside of Colorado Springs (zips 80904, 80905, 80906, 80907, 80919). A former classroom teacher and fix-and-flip renovator since 2004, Les holds eight designations: PSA (Pricing Strategy Advisor), SRES (Seniors Real Estate Specialist), ABR (Accredited Buyer's Representative), GRI (Graduate, REALTOR Institute), MRP (Military Relocation Professional), ePro, NHCB, and REMD.