Is Penrose, CO 81240 a buyer’s or seller’s market?
Penrose is a balanced market. With about 5.9 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 9% of U.S. ZIP codes, and #222 of 248 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Penrose housing market right now
In the three months ending August 31, 2026, 7% of homes in Penrose, CO 81240 sold above their list price, the typical home went under contract in 74 days and there were 5.9 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking was about the same (7% then), homes sold faster (90 days then) and the median sale price fell 2% to $376,978. Overall, Penrose is more competitive than a year ago, so tougher for buyers.
Within Fremont County, homes here sell faster than in 80% of the county’s ZIP codes, and sell more often over asking than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Howard 81233 (0% sold over asking) or Florence 81226 (0% sold over asking).
Run the numbers for 81240
Nearby markets
Canon City 81212Balanced $226 /sq ftCoal Creek 81221Seller’s market $150 /sq ftCotopaxi 81223Buyer’s market $355 /sq ftFlorence 81226Buyer’s market $224 /sq ft Browse all markets →Towns like Penrose nearby
Find towns like Penrose in other states →Where Penrose is
Loading map…
Questions about Penrose real estate
Is Penrose a buyer’s or seller’s market?
A balanced market: there were 5.9 months of supply in Penrose, CO 81240 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Penrose?
The typical home went under contract in 74 days in the latest three months.
Do homes in Penrose sell over asking?
7% of homes sold above their original list price, and the typical sale closed at 96.6% of the list price.
What are property taxes in Penrose?
About 0.36% of a home’s value a year in Fremont County, or roughly $1,440 on a $400,000 home.
What is the median home price in Penrose?
The median sale price was $376,978 in the three months ending August 31, 2026, about $244 per square foot.
Local agents
See all agents in 81240 →No sponsored agents in 81240 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 81240
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology