It seems like that house across the street has had a "For Sale" sign in the yard for months. It may be! The average Days on Market for single family El Paso County homes was 79 days according to August statistics. 
Some other single family homes statistics from Pikes Peak Association of Realtors (which inlcludes data from several other areas outside the Colorado Springs metro area):
August 2007: There were 7,052 active listings, and 945 properties sold. The average sales price was $259,095. In August of 2005, there were 4,472 listings, and 1,374 sales; average price was 253,032.
July 2007: There were 7,065 active listings, and 1,031 sales, with an average sales price of 274,308. In July 2005, there were 4,436 active listings and 1,324 sales; average price was 250,504.
While there is an over-supply of listings right now, unlike what you hear in the media, people are buying and selling homes.
information from PPAR deemed reliable but not guaranteed
Ken and Sandy Wickham, the authors of this article, are Realtors in beautiful Colorado Springs, CO. They welcome your real estate inquiries; to contact them, please visit their website.
Hi WickHome Team,
Wow! A blog! Well, to keep up with you wonderful techie folks, I'm going to have to start one too. I've been curious about the market in C.Springs, and it looks like it's about the same there. We have over 7200 homes on the market here in the Albuquerque area. Just about exactly the same. Our sellers are starting to lower their prices to beat out the competition....so if you know any buyers heading this way...bring 'em on. I'm experiencing the dominoe effect a lot. I have buyers here who can't sell their homes wherever they're from. And I've had listings sit for several months. Somebody needs to start the ball rolling!! Should it be me??? Would this be a good time to buy in the Springs?