MONTHLY STAT PACK Data through April 30, 2021 El Paso County
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, PPAR, The Gazette, The CSBJ and NAR.
Welcome to the ERA Shields Stat Pack. The intent for providing 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 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 this document from which you may draw your own conclusions. We include a brief summary on the last page.
QUICK FACTS
30 year mortgage rates dipped below 3% again at 2.98% The number of Active listings dropped 66%, compared to the same month last year (1230 vs 359) The number of Sales for the month were up 20.8% (1084 vs 1310) Single Family Building Permits were up 439 units through April (28%) List Price/Sales Price Ratio in El Paso County was 103.6% for the month Average Price jumped 22.4% & Median Price is up 14.3% Average Days on the Market for Solds in El Paso County was 14 The number of homes under contract increased by 1.4% compared to last year 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.
Price Range Comparisons Single Family
PRICING TOOLS
This chart is ideal for helping you determine how your price range 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.
Determine how your price range is performing
SINGLE FAMILY - ACTIVES INCLUDE UC & PENDING - EL PASO COUNTY ONLY List Price
Active Listings
Under Contract
Solds
Days on Market
SP/LP
Inventory
Under $100,000
1
3
0
n/a
n/a
n/a
$100,000 to $199,999
1
7
6
5
107.6%
0.2
$200,000 to $299,999
18
89
73
13
104.2%
0.2
$300,000 to $399,999
43
583
402
8
104.9%
0.1
$400,000 to $499,999
68
534
428
14
107.3%
0.2
$500,000 to $599,999
48
355
156
15
104.2%
0.3
$600,000 to $699,999
39
146
112
19
104.1%
0.3
$700,000 to $799,999
26
97
44
11
104.2%
0.6
$800,000 to $899,999
18
52
31
26
101.0%
0.6
$900,000 to $999,999
13
31
15
5
102.8%
0.9
$1 mil to $1.49 mil
31
41
17
47
100.7%
1.8
$1.5 mil to $1.99 mil
18
7
10
68
96.3%
1.8
$2.0 mil & above
26
4
2
340
87.0%
13.0
This graph shows the interaction between supply and demand. A large spread indicates a Buyer’s Market and where the lines get close indicates a Seller’s Market. www.ERAShields.com
MONTHLY DATA Comparing data for the past 10 years
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.
The price range your home is within dictates your odds of selling in the next 30 days. Generally the lower your price, the more potential buyers. www.ERAShields.com
SUMMARY In April we really saw our real estate market boom! More & more sellers are coming to the market to help quench the demand as we saw the most sales ever for April hitting 1310 units. Listing inventory remains at just 2 weeks, but new listings were up 680 units allowing more buyers to get under contract. Despite so many new listings hitting the market, we still saw average prices soar 22% and the average Sales Price/Listing Price was 103.6%. In fact, sellers on average were getting more than their listing price all the way up to $1.5 million where last year that occurred only up to $500,000.
The most sales occurred in the range between $400,000-$500,000 where the number of sales more than doubled from 201 last year to 428 this year. Even more telling is the high-end market, $1 million and above— last year in April, 6 homes sold in this range. April 2021 we saw 29 sell for beyond $1 million dollars! If you ask any local agent who has been in the business for 15 years or more, they will tell you this is the most challenging market ever. Never has one side of the transacation had such extreme leverage as sellers do today. If you are a seller, don’t underestimate all of the duties an agent does for you. It is estimated that more than 30% of under contracts fall-out due to buyer’s remorse, buyer not working in good faith, poor lender pre-approval, low appraisal, high emotions between buyer & seller, and unrealistic expectations by the client are just a handful. If you want to sell your home for the highest price, net the most money and minimize stress, hire a qualified REALTOR®.
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