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MONTHLY STAT PACK Data through March 31, 2014

QUARTERLY 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 Regional Business Alliance, 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 ABOUT 1st QUARTER

OUR LOCAL BOARD HAS TRANSITIONED INTO A NEW MLS SYSTEM. IT WILL TAKE A FEW MONTHS TO DETERMINE THE AFFECTS OF THIS TRANSITION ON REPORTED NUMBERS WHICH MAY CAUSE US TO GO BACK AND CORRECT THE LAST 2 MONTHS.  The number of homes on the market has begun to increase in anticipation of summer  The number of Sales for the quarter were down 396 units (18%)  Single Family Building Permits are down 76 units from last year (11%)  The Average Inventory Level for the Quarter is up to over 6 months  66% of homes sold were $250K & under compared to 68% in 2013 Average Months of Inventory 12.0 10.3 10.0

9.4 7.2 5.6 4.7

5.3

7.7

8.3

8.0 5.8

5.2

4.2

6.0 4.0 2.0 0.0

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

This graph compares the number of homes on the market to the number of sales over the past 3 months for El Paso County 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.


QUARTERLY 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. For January 1, 2014 to March 31, 2014 Area

Listings

Solds

DOM

Inventory

Avg List $

Avg Sales $

Black Forest

131

34

114

11.6

$365,000

$348,000

Briargate Calhan Central Drennan East Ellicott Falcon

382 32 258 13 261 29 41

162 9 159 8 130 23 23

106 126 84 63 85 167 108

7.1 10.7 4.9 4.9 6.0 3.8 5.3

$299,900 $169,900 $165,000 $60,950

$291,000 $181,500 $153,000 $55,250

$175,000 $144,900 $178,950

$170,330 $140,000 $181,000

Falcon North

248

120

130

6.2

$260,000

$256,000

Fountain Valley

632

320

100

5.9

$194,000

$187,500

Manitou

47

12

139

11.8

$267,500

$258,303

Marksheffel

114

34

122

10.1

$249,000

$241,000

Midway Northeast Northgate Northwest Old Colorado City Peyton Powers

11 317 197 197

3 151 68 68

73 78 119 99

11.0 6.3 8.7 8.7

$120,000 $219,900 $350,000 $339,900

$120,000 $215,000 $345,000 $328,000

90

51

82

5.3

$172,493

$175,000

32 390

14 214

97 91

6.9 5.5

$213,500 $215,000

$212,000 $206,000

Rock Creek

13

0

50

n/a

n/a

n/a

Southeast

199

134

93

4.5

$144,900

$137,750

Southwest

344

95

98

10.9

$225,000

$205,000

Tri Lakes Ute Pass West Divide

324 37 69 80

93 8 42 22

116 101 104 167

10.5 13.9 4.9 10.9

$400,000 $202,400 $214,900 $265,000

$380,000 $190,000 $205,000 $260,750

Woodland Park

135

47

158

8.6

$232,000

$217,500

*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.


QUARTERLY PRICING TOOLS Determine how your price range 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. List Price

Active Listings Supply

Solds Demand

Days on Market Days to Sell

Inventory Months

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

99 117 194 336 359 435 368 391 288 305 189 182 164 183 79 93 50 73 87 96 63 61 28 45 9 17 6 23 60 25 17

59 64 104 191 225 253 194 196 130 127 71 65 63 63 27 26 15 19 23 13 11 11 5 7 3 2 0 1 4 1 0

73 73 82 69 65 61 63 77 94 79 86 75 72 79 138 105 99 109 102 94 81 40 112 67 224 172 n/a 460 91 51 n/a

5.0 5.5 5.6 5.3 4.8 5.2 5.7 6.0 6.6 7.2 8.0 8.4 7.8 8.7 8.8 10.7 10.0 11.5 11.3 22.2 17.2 16.6 16.8 19.3 9.0 25.5 n/a 69.0 45.0 75.0 n/a


3-MONTHS OF DATA COMPARING DATA OVER THE PAST 10 YEARS

Active Listings 6000 5000 4000 3000 2000 1000 0 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

Average Active Listings for the Quarter when compared to the same period the previous 10 years. Quarterly Sales 2500

2000

1500

1000

500

0 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

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


3-MONTHS OF DATA COMPARING DATA OVER THE PAST 10 YEARS

$270,000

$250,000

$230,000

$210,000

Average Median

$190,000

$170,000

$150,000 2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

The Average & Median Sales Prices for the same quarter over the past 10 years.

30% 25% 20%

15% 10% 5% 0%

The price range your home is within, dictates your odds of selling. Generally the lower your price, the more potential buyers.


1st Quarter 2014 Review The Colorado Springs real estate market had a banner year in 2013 despite a lackluster 4th quarter where we saw activity (under contracts) really decline. The lack of buyers and sellers at the end of last year resulted in lower than expected sales (down 18%) and prices (down 3%-5%) in the first quarter of 2014. The first quarter really began to heat up in late February when listings began their annual rise in anticipation of summer buyers We also saw buyers finally begin to flow back into the market as under contract listings jumped significantly. Inventory levels for the quarter bumped up to a more healthy rate for the quarter (5.2 months). Despite the fact more listings are hitting the market, it seems homes which have not sold over the past 60 days are “stuck in the muck� while new listings which are in good condition & priced to sell are selling quickly. The 2nd quarter is setting-up nicely with new listings coming on the market at a rate of about 65 a day. The determining factor of exactly what the next 3 months will look like is in the hands of the buyers. The last few weeks of March saw a good trend of buyers coming into the market and if that continues we expect sales to get back on par with 2013 while prices will increase 3%-5%.

1st Quarter 2014 Statistical Report  

ERA Shields 1st Quarter 2014 statistical report. Your one stop shop for market stats for the Pikes Peak Region.

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