july colorado springs market statistics
DESCRIPTION
ERA Shields monthly Stat Pack covers everything you need to know about the current market.TRANSCRIPT
MONTHLY STAT PACK Data through July 31, 2014
MONTHLY RESIDENTIAL REVIEW
Welcome to the ERA Shields Stat Pack. The intent for providing this infor-
mation to you is to educate you on the current local real estate market so you can
better make decisions for you and your family. Real estate markets vary from
city to city as well as neighborhood to neighborhood. When the national media
reports on how the real estate market is doing, it is reporting on national num-
bers and it is likely very different from how your neighborhood is performing.
You will find factual data within The Stat Pack from which you may draw your
own conclusions. You will find a brief summary on the last page.
QUICK FACTS The number of Active Listings are even with last year (4226)
The number of Sales for the month were even when compared to 2013 (1199)
Single Family Building Permits are down nearly 300 units
The REAL Inventory Level is at 5.2 months
The Average Sales Price is up 4.2% while Median Sales Price was flat
59% of sales in the past month were $250K and under
Foreclosure starts are slightly down
This graph compares the number of homes on the market (Active & Under
Contract) to the number of homes Sold. It determines how many months it would
take to sell through the current listing inventory.
Most economists consider 6.0 months to be a balanced market.
The data found within the ERA Shields Real Estate Stat Pack is based on information from the Pikes Peak REALTOR® Services Corporation (RSC) or its PPMLS. This content is deemed reliable; however RSC, PPMLS and ERA Shields Real Estate do not guarantee its accuracy. Data maintained by RSC does not reflect all real estate activity in the market. Additional sources include the Colorado Springs Business Alliance, El Paso County Assessor, El Paso County Trustee, Colorado Springs HBA, PPAR, The Gazette, The CSBJ and NAR.
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Months of REAL Inventory Months
PRICING TOOLS Determine how your neighborhood is performing
Monthly Area Comparisons for Single Family & Patio Homes This chart is ideal for helping you determine how your neighborhood is doing. If you are considering
selling your home, this information is just one tool you can reference to assist you with pricing your home strategically. Call me if you need assistance utilizing this graph.
*Inventory = The number of months it would take to sell through the current active listings at the current sales rate if no other homes came on the market.
**DOM = Days on Market for the homes which actually sold.
Area Comparisons for Single Family & Patio Homes
For July 2014
Area Listings Solds DOM Inventory Med List $ Med Sales $ SP/LP
Black Forest 147 22 105 6.7 $499,000 $406,950 81.6%
Briargate 299 101 69 3.0 $339,975 $266,250 78.3%
Calhan 18 4 156 4.5 $267,500 $162,000 60.6%
Central 205 68 80 3.0 $213,250 $159,000 74.6%
Drennan 6 4 102 1.5 $192,450 $150,000 n/a
East 160 67 53 2.4 $209,900 $189,900 90.5%
Ellicott 26 7 30 3.7 $236,750 $270,000 114.0%
Falcon 35 13 61 2.7 $236,700 $315,000 133.1%
Falcon North 211 58 95 3.6 $294,000 $269,900
91.8%
Fountain Val-ley
398 163 75 2.4 $219,000 $175,000 79.9%
Manitou 54 11 88 4.9 $397,499 $350,000 88.1%
Marksheffel 81 18 79 4.5 $267,900 $192,000 71.7%
Midway 5 4 154 1.3 $210,725 $164,500 78.1%
Northeast 248 92 58 2.7 $259,700 $210,500 81.1%
Northgate 191 43 90 4.4 $374,900 $355,332 94.8%
Northwest 196 47 68 4.2 $371,950 $321,500 86.4%
Old Colorado City
76 23 68 3.3 $219,900 $193,250 87.9%
Peyton 22 4 182 5.5 $424,250 $367,500 86.6%
Powers 250 126 65 2.0 $239,000 $209,900 87.8%
Rock Creek 12 5 184 2.4 $676,002 $399,900 n/a
Southeast 88 57 55 1.5 $144,950 $137,900 95.1%
Southwest 330 63 73 5.2 $492,000 $230,000 46.7%
Tri Lakes 315 81 85 3.9 $475,000 $439,950 92.6%
Ute Pass 46 4 65 11.5 $275,000 $217,500 79.1%
West 71 20 61 3.6 $295,000 $220,000 74.6%
Divide 97 14 89 6.9 $247,000 $219,900 89.0%
Woodland Park
142 19 90 7.5 $325,000 $235,000 72.3%
PRICING TOOLS Determine how your neighborhood is performing
Monthly Price Range Comparisons Single Family & Patio Homes This chart is ideal for helping you determine how your neighborhood is doing. If you are considering selling your home, this information is just one tool you can reference to assist you with pricing your home strategically. If you have questions on how to properly use this data,
call me.
List Price Active Listings Solds Days on Market Inventory
Supply Demand Days to Sell Months
Under $75,000 86 20 66 4.3
$75,000 to $99,999 85 12 129 7.1
$100,000 to $124,999 182 37 89 4.9
$125,000 to $149,999 294 95 80 3.1
$150,000 to $174,999 379 98 70 3.9
$175,000 to $199,999 500 157 65 3.2
$200,000 to $224,999 429 118 61 3.6
$225,000 to $249,999 528 130 75 4.1
$250,000 to $274,999 419 89 77 4.7
$275,000 to $299,999 496 74 95 6.7
$300,000 to $324,999 299 56 99 5.3
$325,000 to $349,999 321 54 116 5.9
$350,000 to $374,999 234 35 94 6.7
$375,000 to $399,999 242 37 77 6.5
$400,000 to $424,999 130 24 121 5.4
$425,000 to $449,999 191 21 106 9.1
$450,000 to $474,999 97 12 98 8.1
$475,000 to $499,999 159 18 104 8.8
$500,000 to $549,999 148 19 77 7.8
$550,000 to $599,999 149 10 75 14.9
$600,000 to $649,999 81 7 114 11.6
$650,000 to $699,999 87 4 186 21.8
$700,000 to $749,999 41 7 106 5.9
$750,000 to $799,999 63 3 120 21.0
$800,000 to $849,999 24 3 129 8.0
$850,000 to $899,999 38 2 128 19.0
$900,000 to $949,999 13 1 16 13.0
$950,000 to $999,999 41 1 489 41.0
$1 mil to $1.50 mil 98 3 99 32.7
$1.5 mil to $2.0 mil 37 1 69 37.0
$2.0 mil & above 19 1 281 19.0
MONTHLY DATA COMPARING DATA FOR THE PAST 10 YEARS
This graph shows the total number of Solds for the past month. Comparing this data over the past 10 years helps determine what trends are occurring.
Active Listings at the end of the month when compared to the same month the previous 10 years show remarkable improvement.
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Active Listings
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Monthly Sales
MONTHLY DATA COMPARING DATA FOR THE PAST 10 YEARS
The Average & Median Sales Prices for the same month over the past 10 years. 10 years of data helps you better gauge the current health
of the local real estate market.
The price range your home is within dictates your odds of selling. Generally the lower your price, the more potential buyers.
Chance of Selling
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Average
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April 2014 Summary
The market for 2014 continues to be sluggish, especially in the mid to high ranges. $250,000 and below the market remains quite good. As you go up in price from $250,000 the market softens quickly and the higher you go the weaker it gets. The blame for the lackluster local market has to go to jobs. Although Colorado Springs has seen some job growth, the vast majority of that is with lower paying jobs. Additionally, if you compare employment numbers from 2000 to 2014, you will see the area has lost many high paying jobs and replaced those with lower paying jobs. Colorado Springs is a wonderful place to live so it is astonishing to not see more companies wanting to move here. The City, County & State along with the Business Alliance must learn to play nice with each other if Colorado Springs expects to see good jobs come to the area.
July 2014 Summary