August Market Statistics

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ERA Shields monthly market statistics for the Pikes Peak Region. Visit www.erashields.com for more information.

Transcript of August Market Statistics

  • MONTHLY STAT PACK Data through August 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 down about 4%

    The number of Sales for the month were even with last year

    Single Family Building Permits are down over 15%

    The REAL Inventory Level is just over 5 months

    Sales Prices continue to be up about 4%

    57% of sales in the past month were $250K and under

    Foreclosure starts for the year are up 10%

    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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    20142013201220112010

    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 Listings Solds DOM Inventory Med List $ Med Sales $ SP/LP

    Black Forest 135 24 80 5.6 $497,500 $406,950 81.8%

    Briargate 283 78 100 3.6 $339,900 $266,250 78.3%

    Calhan 27 2 156 13.5 $227,500 $162,000 71.2%

    Central 203 59 80 3.4 $211,000 $159,000 75.4%

    Drennan 8 3 88 2.7 $160,000 $150,000 n/a

    East 156 72 57 2.2 $207,000 $189,900 91.7%

    Ellicott 23 6 85 3.8 $275,000 $270,000 98.2%

    Falcon 34 9 264 3.8 $239,500 $315,000 131.5%

    Falcon North 183 51 96 3.6 $294,973 $269,900 91.5%

    Fountain Valley 378 148 66 2.6 $225,000 $175,000 77.8%

    Manitou 51 7 52 7.3 $422,450 $350,000 82.9%

    Marksheffel 78 13 98 6.0 $279,950 $192,000 68.6%

    Midway 6 0 n/a n/a $263,250 $164,500 62.5%

    Northeast 250 91 72 2.7 $254,900 $210,500 82.6%

    Northgate 186 36 103 5.2 $379,900 $355,332 93.5%

    Northwest 192 42 107 4.6 $384,500 $321,500 83.6%

    Old Colorado City 76 23 102 3.3 $221,950 $193,250 87.1%

    Peyton 24 6 111 4.0 $399,900 $367,500 91.9%

    Powers 232 117 76 2.0 $243,500 $209,900 86.2%

    Rock Creek 11 3 89 3.7 $695,000 $399,900 n/a

    Southeast 93 54 85 1.7 $149,900 $137,900 92.0%

    Southwest 314 52 74 6.0 $499,000 $230,000 46.1%

    Tri Lakes 309 53 71 5.8 $477,900 $439,950 92.1%

    Ute Pass 35 5 142 7.0 $256,000 $217,500 85.0%

    West 67 24 55 2.8 $428,137 $220,000 51.4%

    Divide 98 19 87 5.2 $244,450 $219,900 90.0%

    Woodland Park 136 27 101 5.0 $315,000 $235,000 74.6%

  • 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 67 11 34 6.1

    $75,000 to $99,999 86 16 146 5.4

    $100,000 to $124,999 187 34 79 5.5

    $125,000 to $149,999 286 69 99 4.1

    $150,000 to $174,999 364 102 73 3.6

    $175,000 to $199,999 494 130 62 3.8

    $200,000 to $224,999 415 104 69 4.0

    $225,000 to $249,999 523 121 78 4.3

    $250,000 to $274,999 403 83 91 4.9

    $275,000 to $299,999 492 90 123 5.5

    $300,000 to $324,999 280 53 102 5.3

    $325,000 to $349,999 303 48 102 6.3

    $350,000 to $374,999 227 32 86 7.1

    $375,000 to $399,999 246 37 96 6.6

    $400,000 to $424,999 126 21 116 6.0

    $425,000 to $449,999 181 21 92 8.6

    $450,000 to $474,999 95 16 111 5.9

    $475,000 to $499,999 153 113 78 1.4

    $500,000 to $549,999 144 10 132 14.4

    $550,000 to $599,999 146 9 125 16.2

    $600,000 to $649,999 78 6 85 13.0

    $650,000 to $699,999 86 4 157 21.5

    $700,000 to $749,999 38 2 459 19.0

    $750,000 to $799,999 65 5 154 13.0

    $800,000 to $849,999 24 0 n/a n/a

    $850,000 to $899,999 35 0 n/a n/a

    $900,000 to $949,999 10 0 n/a n/a

    $950,000 to $999,999 40 3 118 13.3

    $1 mil to $1.50 mil 94 3 71 31.3

    $1.5 mil to $2.0 mil 34 0 n/a n/a

    $2.0 mil & above 17 0 n/a n/a

  • 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

    $150,000

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    Average

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  • April 2014 Summary August 2014 Summary

    The Colorado Springs residential real estate market continues to perform well, but nothing like the Denver market. The real strength in the local market continues to be $250,000 and below along with the ultra high-end where 15 homes have sold for over $1,000,000. We continue to see the market from $300,000 and up struggle including in areas not use to this; the Southwest and Northwest parts of town. Northern El Paso County is doing rather well which we feel is a result of the over-inflated Denver area market, pushing buyers south where they can get a home at a good price. The number of homes on the market is at a healthy level and home values continue to inch up giving homeowners more equity.