Thinking about moving up in Peregrine but unsure whether this is the right market to make your next move? You are not alone. Many homeowners are weighing the same question: how to sell your current home confidently while also buying the right next property without overpaying or missing out. The good news is that today’s Peregrine market offers a mix of opportunity and flexibility for well-prepared buyers. Let’s dive in.
Peregrine Market Snapshot
Peregrine is still a higher-priced pocket of Colorado Springs, but it is not moving at the same speed as the ultra-competitive market many buyers remember from a few years ago. According to Redfin’s latest Peregrine housing market data, the median sale price in April 2026 was $638,000, down 4.1% year over year. The median sale price per square foot was $158, down 16.0% year over year.
That same report shows homes selling for about 1.4% under list price with a median of 42 days on market. In simple terms, that means buyers often have more time to evaluate a home and may have room to negotiate, especially compared with the fast-moving conditions of 2021 and 2022.
It is also important to remember that Peregrine is a very small submarket. Redfin’s latest monthly snapshot showed just one home sold, which means a single sale can swing the numbers. That is why neighborhood headlines matter, but the details behind each listing matter even more.
How Peregrine Compares to Colorado Springs
When you compare Peregrine with the broader Colorado Springs market, one thing stands out right away: pricing. Redfin reports that the Colorado Springs median sale price is $441,000, which puts Peregrine well above the citywide level.
At the same time, the broader market is also showing a more balanced pace. Across Colorado Springs, homes are described as somewhat competitive, receiving 2 offers on average and selling in around 66 days. Redfin also reports that 24.6% of homes sell above list price while 28.8% have price drops, which shows a market with mixed conditions rather than one clear trend.
For move-up buyers, that matters. You are shopping in a market where standout homes can still attract quick interest, but many listings are no longer flying off the shelf. That can create better timing options if you are trying to coordinate a sale and purchase.
What Inventory Means for You
Inventory is one of the biggest factors shaping your options as a move-up buyer. On Realtor.com’s Peregrine overview, the neighborhood currently shows about 10 homes for sale, with a median list price in the high-$700,000s and median days on market around 54 days.
That same source shows the number of homes for sale up 46.7% year over year and days on market up 53.9% year over year. While this is still a small sample, the trend suggests buyers have more choices than they did a year ago. More options can reduce pressure and give you more room to compare layout, condition, lot, and price before making a decision.
For move-up buyers, that added inventory can be especially helpful. If you need more space, a different floor plan, or a home with updated features, a market with more available listings gives you a better shot at finding the right fit without rushing into the wrong one.
Is Peregrine Still Competitive?
Yes, but the competition is selective.
According to Redfin’s neighborhood data, the average Peregrine home sells in about 42 days and around 1% below list price, but so-called hot homes can go pending in about 8 days and sell around list price. That tells you the market is not uniformly slow. Well-priced, well-presented homes can still move quickly.
This is one of the most important takeaways if you are planning a move-up purchase. You should not approach every listing as if it will trigger a bidding war, but you also should not assume the best homes will wait. Preparation still matters.
What Negotiation Room Looks Like
Today’s market is best described as offering selective negotiation room. It is not a universal buyer’s market, but it is also not a market where sellers hold all the leverage.
The data points support that view. Peregrine homes are generally selling slightly below list price. Inventory is up. Days on market are longer. In the broader county, homes are also selling close to, but not consistently at, full ask.
In the March 2026 report from the Colorado Association of REALTORS® and ShowingTime for El Paso County, the year-to-date single-family median sales price was $475,000, down 2.1% year over year. Inventory reached 2,565 homes, up 7.4%, with 65 days on market, 3.1 months supply, and homes receiving 99.0% of list price on average.
That does not mean every seller will offer credits or concessions, and public sources do not provide a reliable neighborhood-level concession rate for Peregrine. Still, these conditions suggest you may have more room to ask for repairs, closing cost credits, or a rate buydown than you would have had during the frenzy years.
Smart Moves for Peregrine Move-Up Buyers
If you are selling one home and buying another, your advantage comes from being prepared on both sides of the transaction. In a market like Peregrine, timing and strategy often matter more than trying to predict the exact market bottom.
Here are a few practical ways to approach your move:
Get Clear on Your Budget
Peregrine sits above the broader Colorado Springs price point, so your next-home budget needs to reflect current neighborhood pricing, not older assumptions. If you are moving into a larger or more updated home, make sure you are evaluating payment, cash to close, and flexibility for repairs or updates.
Price Your Current Home Realistically
If you also need to sell, current closed sales matter more than peak-era expectations. In a small neighborhood, list prices can be aspirational, but buyers and appraisers will look closely at actual comparable sales.
Be Ready to Act on Strong Listings
The best listings may still move fast. If a home is priced well, shows well, and fits what many buyers want, hesitation can still cost you.
Leave Room to Negotiate on Others
Not every home will require a fast or aggressive offer. If a property has been sitting longer, has had a price reduction, or needs updates, there may be more opportunity to negotiate terms.
Selling and Buying at the Same Time
This is often the biggest challenge for move-up buyers. You want to maximize the value of your current home while also securing the next one without adding unnecessary stress.
The current Peregrine market may help with that balancing act. Because conditions are more measured than the frenzy years, many buyers have more breathing room to line up timing, evaluate options, and negotiate thoughtfully.
That said, the strongest approach is still a coordinated plan. You want to understand your likely sale price, your purchase range, and how quickly you may need to move if the right home appears. A clear strategy can help you stay flexible without feeling reactive.
Should You Wait to Buy in Peregrine?
Some buyers wonder whether waiting will create even more leverage. That is possible, but waiting is never risk-free.
The current pattern suggests that buyers may benefit from more choice and more negotiation room than in recent years, but desirable homes can still move quickly. Trying to perfectly time the market can leave you chasing the next shift instead of focusing on the home and terms that work for your household.
For many move-up buyers, the better question is not whether the market has hit bottom. The better question is whether you are financially prepared, clear on your goals, and ready to act when the right home becomes available.
The Bottom Line for Peregrine Buyers
Peregrine remains one of the higher-priced neighborhoods within Colorado Springs, but today’s market is more balanced than the peak frenzy years. Buyers have more options, homes are often selling below list price, and longer market times can create room for negotiation.
At the same time, competition has not disappeared. The most appealing homes can still attract quick interest, which means move-up buyers benefit most when they combine patience with preparation.
If you are thinking about selling your current home and moving up in Peregrine, working with a local team that understands pricing, timing, and neighborhood-level shifts can make the process much smoother. When you are ready to map out your next move, connect with Behr and Behr for trusted, local guidance.
FAQs
What is the current housing market like for move-up buyers in Peregrine?
- Peregrine is a somewhat competitive, higher-priced neighborhood where buyers have more choices and some negotiation room, but well-priced homes can still sell quickly.
Are homes in Peregrine selling above or below list price?
- Recent Redfin data shows Peregrine homes selling about 1.4% under list price on average, which suggests sellers are not consistently getting full asking price.
How long are homes taking to sell in Peregrine?
- Redfin reports a median of 42 days on market in Peregrine, while Realtor.com shows median days on market around 54 days, so buyers often have more time than they did during the peak market years.
Is Peregrine more expensive than the rest of Colorado Springs?
- Yes. Redfin reports a Peregrine median sale price of $638,000 compared with a citywide Colorado Springs median sale price of $441,000.
Should move-up buyers wait for better deals in Peregrine?
- Waiting could create more leverage, but the best homes can still move fast, so being prepared and watching the market closely is often more effective than trying to time it perfectly.
