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MONTHLY STAT PACK Data through February 29, 2012

MONTHLY RESIDENTIAL REVIEW 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 EDC, El Paso County Assessor, El Paso County Trustee, Colorado Springs HBA, PPAR, The Gazette, The CSBJ and NAR.

Welcome to the ERA Shields Stat Pack. The intention for providing this information 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 numbers 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. On the last page you will find a brief summary.

QUICK FACTS

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The number of Active Listings is down 25% from 2011 (4315 in 2011 vs 3223 now) The number of Sales for the month were up 14.7% from 2011 (448 in 2011 vs 514 last month) The Inventory Level is down 35% from 2011 (9.6 months vs 6.3 months currently) The Average Sales Price is down nearly 10% from February 2011 76.2% of all sales in February were under $250,000 The number of foreclosure starts in 2012 so far are down from 699 to 586 (16% drop)

Months of Inventory 12.0 10.0

10.0

9.6

10.0 7.8 8.0 6.0

6.8 5.1

6.0 5.0

5.6

7.6 6.3

4.0 2.0 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

This graph compares the  number of homes on the  market to the number of  sales  and 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. 


PRICING TOOLS Determine how your neighborhood is performing

3-Month 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. This data is from December 1, 2011窶認ebruary 29, 2012 Area

Listings

Solds

DOM

Inventory

Avg List $

Avg Sales $

Black Forest

118

30

114

11.8

$

584,942

$

403,864

Briargate

195

82

93

7.1

$

342,916

$

263,306

Calhan

23

6

48

11.5

$

171,842

$

110,521

Central

185

121

87

4.6

$

217,636

$

130,732

Drennan

20

8

179

7.5

$

132,657

$

110,530

East

134

120

92

3.4

$

197,702

$

164,532

Ellicott

42

11

134

11.5

$

223,603

$

138,459

Falcon

47

15

218

9.4

$

239,701

$

191,753

Falcon North

131

70

104

5.6

Fountain Valley

320

244

73

3.9

$ $

270,987 191,649

$ $

242,984 163,598

Manitou

30

5

279

18.0

$

359,872

$

204,367

Marksheffel

26

19

101

4.1

$

246,863

$

206,262

Midway

9

5

70

5.4

$

239,810

$

264,024

Northeast

200

139

97

4.3

$

255,060

$

202,713

Northgate

119

43

102

8.3

$

476,865

$

339,263

Northwest

109

46

84

7.1

$

402,054

$

307,517

Old Colorado City

64

41

113

4.7

$

197,966

$

182,385

Peyton

28

7

162

12.0

$

375,749

$

125,567

Powers

223

147

105

4.6

$

222,523

$

185,504

Rock Creek

8

1

466

24.0

$

697,588

$

74,900

Southeast

128

127

84

3.0

$

141,860

$

122,229

Southwest

236

86

105

8.2

$

644,630

$

331,786

Tri Lakes

193

73

137

7.9

$

513,186

$

379,799

Ute Pass

27

7

22

11.6

$

435,372

$

325,332

West

55

22

91

7.5

$

449,678

$

285,595

Divide

71

20

156

10.7

$

362,902

$

222,858

Woodland Park

79

29

129

8.2

$

409,250

$

229,631

*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.


PRICING TOOLS Determine how your neighborhood is performing

3-Month Price Range 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. If you have questions on how to properly use this data, call me. This data is from December 1, 2011—February 29, 2012 List Price     Under $75,000  $75,000 to $99,999  $100,000 to $124,999  $125,000 to $149,999  $150,000 to $174,999  $175,000 to $199,999  $200,000 to $224,999  $225,000 to $249,999  $250,000 to $274,999  $275,000 to $299,999  $300,000 to $324,999  $325,000 to $349,999  $350,000 to $374,999  $375,000 to $399,999  $400,000 to $424,999  $425,000 to $449,999  $450,000 to $474,999  $475,000 to $499,999  $500,000 to $549,999  $550,000 to $599,999  $600,000 to $649,999  $650,000 to $699,999  $700,000 to $749,999  $750,000 to $799,999  $800,000 to $849,999  $850,000 to $899,999  $900,000 to $949,999  $950,000 to $999,999  $1 mil to $1.50 mil  $1.5 mil to $2.0 mil  $2.0 mil & above 

Active Listings  Supply  86  159  242  404  400  408  278  310  241  228  151  179  112  136  64  89  45  63  67  84  40  52  22  37  11  19  6  20  49  22  13 

Solds  Demand  69  98  141  176  169  166  123  137  69  73  50  31  20  35  14  24  9  6  11  12  7  6  4  5  2  2  1  1  4  3  0 

Days on Market  Days to Sell  111  100  122  114  102  106  123  109  135  133  147  148  139  204  146  169  139  199  152  258  236  112  259  144  169  50  330  505  200  518  n/a 

Inventory  Months  3.7  4.9  5.1  6.9  7.1  7.4  6.8  6.8  10.5  9.4  9.1  17.3  16.8  11.7  13.7  11.1  15.0  31.5  18.3  21.0  17.1  26.0  16.5  22.2  16.5  28.5  18.0  60.0  36.8  22.0  n/a 


ANNUAL DATA COMPARING DATA FOR THE PAST 10 YEARS

Active Listings 5202 4200

3807 3725

5571

6000 5060

5000

4361 4315

4171

3223

3116

4000 3000 2000 1000 0

Feb‐12

Feb‐11

Feb‐10

Feb‐09

Feb‐08

Feb‐07

Feb‐06

Feb‐05

Feb‐04

Feb‐03

Feb‐02

Active Listings at the end of the month when compared to the same  period the previous 10 years shows remarkable improvement.  No January in the past 10 years has seen fewer homes on the market. 

3 Month  Trend For Solds 2431 1855 1825

2500

2404 2080

2000

2000

1734

1659 1412

1537

1636 1500 1000 500 0 2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

This graph shows the total number of Solds for the past 3 months.  Comparing 3‐months of data for each year over the past 10 years  really helps determine what trends are occurring. 


ANNUAL DATA COMPARING DATA FOR THE PAST 10 YEARS

$270,000 $250,000 $230,000 $210,000

Average Median

$190,000 $170,000 $150,000 Feb‐12

Feb‐11

Feb‐10

Feb‐09

Feb‐08

Feb‐07

Feb‐06

Feb‐05

Feb‐04

Feb‐03

Feb‐02

The Average & Median Sales Prices for the same month over the past 10 years.  The “bubble” is rather noticeable in 2004‐2009.  10 years of data helps you better  gauge the current health of the local real estate market. 

Year To Date Foreclosure Starts 2500 2000 1500 1000 500 0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

Another indicator of the health of the overall real estate market is foreclosure  starts .  Although our market continues to see a high  number of foreclosures, it is a vast improvement over 2009. 


February 2012 Summary      The first two months of 2012 have seen many improvements in the real estate market.    However the one number (and perhaps the most important) which continues to drop is Sales  Price.  In February the Average Sales Price in the Colorado Springs area for Single Family Homes  & Patio Homes saw a 10% drop while the Median Sales Price was down just over 7%.       This drop in price is somewhat surprising when you consider how strong most of the other  factors in the market are.  Perhaps some of this drop in price is due to the fact that when        determining the current market value of a home, appraisers and REALTORS put the most        emphasis on the most recent sales.  By doing this, we are looking into the past and when the  past has been depreciation, it takes a dramatic shift in the market to get the pendulum to swing  back in the other direction.       As a homeowner, some of the things you can do to help swing the pendulum back the other  direction are home projects/home improvements.  Updating your home with new cabinets or  countertops, enhancing your landscape, or installing new flooring are some of the items you  may consider.       As a Seller, the things you may need to do to get the price you want probably are not the  same as just mentioned.  It is very rare to get 100% return on your investment on home          improvements. A few items which do give you a high rate of return are “Spring Cleaning” (make  your home sparkle), new interior paint and perhaps new flooring.  A common mistake many  Sellers make is completing a major home improvement project on their home and expecting a  full return.       For more information on how you can help improve your homes value, speak to your ERA  Shields Real Estate Professional.  


ERA Shields Real Estate February Stat Pack