MONTHLY STAT PACK Data through April 30, 2014
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 Business Alliance, El Paso County Assessor, El Paso County Trustee, Colorado Springs HBA,
Welcome to the ERA Shields Stat Pack. The intent 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. You will find a brief summary on the last page.
QUICK FACTS
The number of Active Listings is up over 10% The number of Sales for the month is down nearly 10% Single Family Building Permits are down 10% The Inventory Level is at 5.4 months, the highest level in almost 2 years The Average & Median Sales Prices are both up 3% 66% of sales in the past month were $250K and under Foreclosure starts in January jumped 28%
This graph compares the number of homes on the market to the number of sales to determine 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
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. Area Comparisons for Single Family & Patio Homes For April 2014 Black Forest
Area
Listings 102
Solds 16
DOM 79
Inventory 6.4
Med List $ $499,950
Med Sales $ $356,500
SP/LP 71.3%
Briargate
302
63
98
4.8
$348,200
$290,000
83.3%
Calhan
24
1
130
24.0
$218,250
$55,000
25.2%
Central
147
61
82
2.4
$189,900
$175,000
92.2%
Drennan
11
0
n/a
n/a
$100,500
n/a
n/a
East
131
55
83
2.4
$206,500
$165,500
80.1%
Ellicott
18
5
380
3.6
$204,900
$223,000
108.8%
Falcon
29
18
92
1.6
$199,949
$170,450
85.2%
Falcon North Fountain Valley Manitou
217
34
110
6.4
$298,750
$264,595
88.6%
381
130
79
2.9
$219,900
$199,250
90.6%
38
7
187
5.4
$399,499
$290,000
72.6%
Marksheffel
84
17
117
4.9
$284,900
$239,900
84.2%
Midway
9
3
52
n/a
$265,000
$203,000
76.6%
Northeast
205
72
70
2.8
$280,000
$211,000
75.4%
Northgate
165
24
114
6.9
$405,000
$370,750
91.5%
Northwest Old Colorado City Peyton
159
42
102
3.8
$367,400
$324,960
88.4%
51
19
95
2.7
$245,450
$195,500
79.6%
29
6
159
4.8
$399,900
$337,500
84.4%
Powers
245
103
73
2.4
$239,950
$210,000
87.5%
Rock Creek
13
n/a
n/a
n/a
$575,000
n/a
n/a
Southeast
89
53
85
1.7
$146,000
$144,900
99.2%
Southwest
274
43
86
6.4
$450,000
$230,000
51.1%
Tri Lakes
275
41
90
6.7
$465,000
$420,000
90.3%
Ute Pass
27
3
414
9.0
$334,950
$230,000
68.7%
West
50
14
80
3.6
$274,800
$207,450
75.5%
Divide Woodland Park
82
4
71
20.5
$249,900
$244,500
97.8%
119
23
131
5.2
$332,499
$235,900
70.9%
*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.
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.
PRICING TOOLS
Determine how your neighborhood is performing
List Price
Active Listings
Solds
Days on Market
Inventory
Supply
Demand
Days to Sell
Months
Under $75,000
85
23
89
3.7
$75,000 to $99,999
95
27
72
3.5
$100,000 to $124,999
179
36
106
5.0
$125,000 to $149,999
332
63
98
5.3
$150,000 to $174,999
366
106
92
3.5
$175,000 to $199,999
476
135
84
3.5
$200,000 to $224,999
417
120
116
3.5
$225,000 to $249,999
511
94
92
5.4
$250,000 to $274,999
420
54
113
7.8
$275,000 to $299,999
486
66
92
7.4
$300,000 to $324,999
307
37
146
8.3
$325,000 to $349,999
349
35
83
10.0
$350,000 to $374,999
241
32
110
7.5
$375,000 to $399,999
279
27
130
10.3
$400,000 to $424,999
152
19
92
8.0
$425,000 to $449,999
163
13
144
12.5
$450,000 to $474,999
109
6
92
18.2
$475,000 to $499,999
125
9
67
13.9
$500,000 to $549,999
144
10
131
14.4
$550,000 to $599,999
155
10
72
15.5
$600,000 to $649,999
103
5
109
20.6
$650,000 to $699,999
86
6
173
14.3
$700,000 to $749,999
60
1
103
60.0
$750,000 to $799,999
48
3
203
16.0
$800,000 to $849,999
25
1
39
25.0
$850,000 to $899,999
28
0
n/a
n/a
$900,000 to $949,999
13
0
n/a
n/a
$950,000 to $999,999
24
0
n/a
n/a
$1 mil to $1.50 mil
92
2
42
46.0
$1.5 mil to $2.0 mil
34
0
n/a
n/a
$2.0 mil & above
18
0
n/a
n/a
MONTHLY DATA
COMPARING DATA FOR THE PAST 10 YEARS
Active Listings at the end of the month when compared to the same month the previous 10 years show remarkable improvement.
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.
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.
Chance of Selling
The price range your home is within dictates your odds of selling. Generally the lower your price, the more potential buyers.
APRIL 2014
April 2014 Summary
Through the first 4 months of 2014, the market is sluggish. The number of listings is increasing to a level we feel is healthy as it is allowing buyers some selection for the first in nearly 2 years. However, we expected to see the buyers come out at pace slightly ahead of last year when in fact they are lagging behind 2013. What is to blame for this unexpected slow down? Perhaps the hard winter is to blame, maybe the loss of DoD jobs locally, could it be the uninspired job market in Colorado Springs, or is it the lack of consumer confidence being felt throughout the nation? Whatever the cause, the fact is our local real estate market is not as hot as it was 12 months ago. As we move into the summer months when the majority of buyers make their home purchases we will be closely watching for any trends. If listing inventory continues to bump up while sales lag, at some point prices will begin to drop. For some odd reason our “guts� are telling us the buyers will come into the market and we will see a strong summer season of real estate sales.