QUARTERLY STAT PACK Data through 2nd Quarter 2021
RESIDENTIAL REVIEW
El Paso County 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.
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
New Listings Input for the Quarter were up 373 units from 2020 (8%) Sales for the Quarter jumped 19% (3488 vs 4163) Single Family Building Permits this year are up 486 units (21%) Median Price for the Quarter is up to $433,333 (21.2%) Average Price for the Quarter went up to $492,281 (23.6%) Just 16% of sales in the Quarter were under $300K (in 2020 it was 39%) 30-Year Fixed Rate Mortgages are back below 3% at 2.90%
This graph compares the number of homes on the market (Active) 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 & Patio Homes
PRICING TOOLS
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.
Determine how your price range is performing
Based on 1st Quarter Sales and Current Number of Actives
SINGLE FAMILY - ACTIVES INCLUDE UC & PENDING - EL PASO COUNTY ONLY List Price Active Under Contract Solds Days on Market SP/LP Inventory Under $100,000
1
0
5
9
99.6%
0.6
$100,000 to $199,999
3
6
17
9
99.1%
0.5
$200,000 to $299,999
23
97
165
9
102.3%
0.4
$300,000 to $399,999
82
576
1170
6
105.9%
0.2
$400,000 to $499,999
136
604
1420
9
105.6%
0.3
$500,000 to $599,999
86
302
614
13
103.7%
0.4
$600,000 to $699,999
72
168
366
15
103.1%
0.6
$700,000 to $799,999
44
97
159
12
101.5%
0.8
$800,000 to $899,999
30
44
111
19
101.4%
0.8
$900,000 to $999,999
20
29
62
19
102.4%
1.0
$1 mil to $1.50 mil
51
35
82
25
100.0%
1.9
$1.5 mil to $2.0 mil
23
9
16
69
97.0%
4.3
$2.0 mil & above
33
8
6
147
94.8%
16.5
This graph shows the total number of new listings entered into the MLS during the Quarter. www.ERAShields.com
QUARTERLY DATA MONTHLY DATA Comparing data for the past 10 years Comparing data for the past 10 years
Average Monthly Active Listings for the Quarter shows the approximate number of homes on the market on any given day during the Quarter.
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 www.ERAShields.com/pages/MarketConditions
QUARTERLY 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 2nd Quarter 2021 The theme for 2021 is ‘demand’ and there is a ton of it here in the Pikes Peak Region. Sales year-todate are 10% ahead of last year and we expect this torrid pace to continue and shattering the record for most sales ever for El Paso County. This high demand is keeping inventory at record lows but that doesn’t necessarily mean there are no homes to sell. The total number of new listings this past quarter was up almost 10% compared to last year, but with demand so high these new listings get swallowed up quickly. We are seeing multiple offers in most price ranges and the sales price to list price ratio (SP/LP) is staggering across the entire market area. In the $300k-$500k range, the SP/LP ratio was in excess of 5%! And from $500k-$1 million we saw this ratio above 2%. Prices this quarter jumped nearly 25% because of the demand, that is nearly $100,000 in 12 months! Colorado Springs and the entire Front Range of Colorado continues to boom thanks to the high quality of life offered. We continue to see more locals choose to stay in the area (even young professionals) and even more out of towners wanting to move here. This demand will keep our local housing market on a hot streak for the foreseeable future.
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