QUARTERLY STAT PACK Data through September 30, 2015
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
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. A brief summary can be found on the last page.
QUICK FACTS
The number of Active Listings were down 17% for the quarter The number of Sales for the 3rd Quarter was the most on record Single Family Building Permits for the year are up slightly 16% The REAL Inventory Level has bumped up to 4.6 months Average Sales Price jumped 5% while the Median Price jumped 6% 71% of sales in the past month were under $300K Foreclosure starts for the year are down 30%
Months of REAL Inventory Months 8.0 7.0
6.0 5.0 4.0 3.0 2.0 1.0 0.0
2011
2012
2013
2014
2015
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.
PRICING TOOLS Determine how your neighborhood is performing
Quarterly 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 July 1, 2015 through September 30, 2015 Area
Active
Avg List $
Solds
DOM
Inventory
Avg Sales $
SP/LP
Black Forest
100
$ 752,109
75
72
4.0
$448,455
98.3%
Briargate
246
$ 377,469
283
77
2.6
$326,370
99.1%
Calhan
9
$ 343,988
16
124
1.7
$179,837
97.1%
Central
205
$ 271,770
231
67
2.7
$212,612
99.0%
Drennan
4
$ 210,500
11
104
1.1
$142,936
96.8%
East
127
$ 267,428
237
52
1.6
$210,052
99.5%
Ellicott
13
60
2.0
$229,850
99.7%
Falcon
22
$ 341,076 $ 308,222
20 33
45
2.0
$243,343
99.5%
Falcon North
160
$ 326,056
185
59
2.6
99.2%
Ftn Valley
341
534
70
1.9
Manitou
40
$ 240,430 $ 481,166
$294,380 $214,264
21
139
5.7
$348,314
98.3%
Marksheffel
68
$ 304,255
75
85
2.7
$261,004
99.2%
Northeast
149
$ 328,181
317
51
1.4
$243,596
99.3%
Northgate
133
$ 522,108
140
76
2.9
$412,152
98.8%
Northwest
122
$ 465,264
137
84
2.7
$367,258
98.3%
Old Colo Cty
72
$ 294,410
75
80
2.9
$232,073
100.5%
Peyton
31
$ 424,727
25
103
3.7
$347,144
97.6%
Powers
208
$ 258,999
441
57
1.4
$236,864
99.3%
Rock Creek
9
$ 854,544
4
124
6.8
$376,375
93.5%
Southeast
60
$ 167,019
202
57
0.9
$164,459
99.5%
Southwest
256
$ 736,743
171
89
4.5
$378,472
97.6%
Tri Lakes
221
$ 570,119
207
86
3.2
$430,654
98.5%
Ute Pass
30
$ 421,863
19
111
4.7
$263,573
97.6%
West
75
$ 514,206
70
69
3.2
$339,972
99.1%
Divide
61
$ 625,604
72
79
2.5
$236,810
97.5%
Wood Park
77
$ 475,392
87
93
2.7
$303,259
97.5%
99.3%
*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.
www.ERAShields.com/pages/MarketConditions
Price Range Comparisons Single Family & Patio Homes
PRICING TOOLS Determine how your neighborhood is performing
List Price
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.
Active Listings
Solds
Days on Market
Inventory
Sales Price/
Supply
Demand
Days to Sell
Months
List Price
Under $75,000
42
35
70
3.6
94.5%
$75,000 to $99,999
53
46
96
3.5
100.6%
$100,000 to $124,999
105
85
77
3.7
98.7%
$125,000 to $149,999
209
205
56
3.1
99.4%
$150,000 to $174,999
300
301
65
3.0
99.2%
$175,000 to $199,999
458
493
55
2.8
99.2%
$200,000 to $224,999
369
418
56
2.6
98.9%
$225,000 to $249,999
534
415
59
3.9
99.1%
$250,000 to $274,999
383
371
75
3.1
98.8%
$275,000 to $299,999
403
314
81
3.9
98.6%
$300,000 to $324,999
241
168
72
4.3
98.6%
$325,000 to $349,999
263
185
77
4.3
98.3%
$350,000 to $374,999
208
141
78
4.4
98.8%
$375,000 to $399,999
214
135
105
4.8
99.1%
$400,000 to $424,999
122
75
81
4.9
98.7%
$425,000 to $449,999
127
80
125
4.8
98.3%
$450,000 to $474,999
106
61
122
5.2
98.0%
$475,000 to $499,999
114
67
133
5.1
97.5%
$500,000 to $549,999
139
56
138
7.4
98.0%
$550,000 to $599,999
131
47
111
8.4
97.9%
$600,000 to $649,999
88
24
154
11.0
97.3%
$650,000 to $699,999
83
24
164
10.4
96.0%
$700,000 to $749,999
46
9
108
15.3
96.5%
$750,000 to $799,999
48
13
195
11.1
97.1%
$800,000 to $849,999
24
7
107
10.3
97.3%
$850,000 to $899,999
35
5
75
21.0
97.6%
$900,000 to $949,999
13
1
426
39.0
92.0%
$950,000 to $999,999
32
4
137
24.0
96.7%
$1 mil to $1.50 mil
75
7
88
32.1
92.0%
$1.5 mil to $2.0 mil
36
5
161
21.6
97.0%
$2.0 mil & above
17
2
315
25.5
94.3%
www.ERAShields.com/pages/MarketConditions
QUARTERLY DATA Comparing data for the past 10 years Active Listings 7000
6000
5000
4000
3000
2000
1000
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
Active Listings at the end of the period when compared to the same period the previous 10 years show remarkable improvement. Sales 4000
3500
3000
2500
2000
1500
1000
500
0
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
This graph shows the total number of Solds for the period. Comparing this data over the past 10 years helps determine what trends are occurring.
www.ERAShields.com/pages/MarketConditions
QUARTERLY DATA Comparing data for the past 10 years
$290,000 $270,000 $250,000 $230,000 Avera ge
$210,000
Median
$190,000 $170,000 $150,000 2005
2007
2009
2011
2013
2015
The Average & Median Sales Prices for the same period over the past 10 years. This graph easily illustrates the current health of the local real estate market.
40%
Your Odds Of Selling
35% 30% 25% 20%
15% 10% 5%
0%
The price range of your home dictates your odds of selling. Generally, the lower your price, the more potential buyers.
www.ERAShields.com/pages/MarketConditions
SUMMARY The residential real estate market in the Colorado Springs metro area posted another record quarter for units sold and home prices. The real drivers of our market continue to be low mortgage rates and the low number of homes on the market. When you combine the lack of homes on the market with strong number of buyers you get the record low inventory numbers and if you recall Economics 101...fewer choices/ options when there are lots of buyers = higher prices. If you own a home within the City Limits of Colorado Springs, the market is good to excellent. The southeast area (near the airport) remains the hottest part of the market within the city with less than a month of inventory. The southwest area (near The Broadmoor) is the slowest within the city but it only has 4 months of inventory. The areas outside of town struggling some include Black Forest (6.1 months), Manitou (6.2 months) and Ute pass (8.2 months). When you look at price ranges, the market remains very hot up to $300k. However, we did see several very expensive homes sell this quarter (14 sold for $1 million or more) which is alleviating some of the high priced inventory. Another interesting fact is sellers are getting 99.0% of their asking price. The current market is really a great opportunity for most buyers. First time home buyers this year who bought a home for $150,000 in May already have some solid equity. The move-up buyer has really cleaned up as they sold their house at a premium (because the under $300k is sizzling) and bought a home in the sluggish price range of $450k. The only buyer who potentially may not see achieve these results are the move down buyer.
www.ERAShields.com/pages/MarketConditions