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QUARTERLY STAT PACK Data through March 31, 2018

RESIDENTIAL REVIEW Welcome to the ERA Shields Stat Pack. The intent for providing this information is to educate you on the current local real estate market so you can 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.

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

QUICK FACTS       

The number of Active Listings was down another 7% for the quarter The number of Sales was up 5% for the quarter Single Family Building Permits for the year are up 92 units (31%) The REAL Inventory Level remains near record levels at just 3.2 months Average Sales Price and Median Price both jumped more than 12% for the quarter 53% of sales in the past quarter were under $300K (2017 was 65%) Foreclosure starts for the year have dropped 51 units

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

2016

2017

2018

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

Active

Avg List $

Solds

DOM

Inventory

Avg Sales $

SP/LP

Black Forest

45

$

911,677

46

58

2.9

$597,508

98.5%

Briargate

157

$

474,754

210

45

2.2

$391,615

99.7%

Calhan

11

$

406,154

14

21

2.4

$210,885

101.2%

Central

23

$

382,691

187

18

0.4

$262,280

99.8%

Drennan

6

$

340,233

3

36

6.0

$204,800

99.4%

East

17

$

375,817

170

24

0.3

$265,942

100.1%

Ellicott

12

36

2.0

$351,050

98.9%

11

343,776 570,340

18

Falcon

$ $

23

46

1.4

$296,034

100.2%

Falcon North

71

$

378,351

167

33

1.3

118

0.7

100.3%

5

313,108 609,560

26

Manitou

$ $

515

$342,067 $264,748

99.8%

Ftn Valley

12

57

1.3

$381,604

97.1%

Marksheffel

72

$

381,686

91

32

2.4

$329,939

99.6%

Northeast

40

$

558,876

211

21

0.6

$317,524

100.2%

Northgate

98

$

654,909

120

57

2.5

$496,128

99.2%

Northwest

49

$

532,590

74

30

2.0

$428,477

98.9%

Old Colo Cty

26

$

488,217

63

29

1.2

$294,692

100.4%

Peyton

8

$

433,725

5

48

4.8

$327,240

97.5%

Powers

37

$

298,260

308

21

0.4

$297,585

100.2%

Rock Creek

4

$

706,200

1

14

12.0

$175,000

87.9%

Southeast

14

$

232,407

199

15

0.2

$277,925

101.0%

Southwest

107

$

992,681

154

58

2.1

$419,119

98.9%

Tri Lakes

103

$

802,344

170

62

1.8

$507,787

99.3%

Ute Pass

9

$

390,611

11

67

2.5

$427,654

96.9%

West

19

$

759,810

45

54

1.3

$421,653

97.6%

Divide

19

$ 1,292,684

25

37

2.3

$287,738

100.3%

Wood Park

33

$

49

52

2.0

$420,915

98.6%

579,621

*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


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

10

7

70

4.3

6615081.5%

$75,000 to $99,999

15

15

46

3.0

100.0%

$100,000 to $124,999

17

17

22

3.0

100.1%

$125,000 to $149,999

33

43

30

2.3

100.7%

$150,000 to $174,999

38

71

27

1.6

101.1%

$175,000 to $199,999

85

155

25

1.6

99.9%

$200,000 to $224,999

127

206

18

1.8

100.4%

$225,000 to $249,999

199

358

15

1.7

100.7%

$250,000 to $274,999

215

334

19

1.9

100.2%

$275,000 to $299,999

291

376

20

2.3

100.2%

$300,000 to $324,999

221

225

33

2.9

99.2%

$325,000 to $349,999

249

242

46

3.1

99.2%

$350,000 to $374,999

200

145

63

4.1

99.5%

$375,000 to $399,999

202

168

52

3.6

99.3%

$400,000 to $424,999

135

92

61

4.4

99.6%

$425,000 to $449,999

190

97

87

5.9

99.1%

$450,000 to $474,999

112

71

63

4.7

98.7%

$475,000 to $499,999

136

69

63

5.9

99.2%

$500,000 to $549,999

171

95

80

5.4

99.1%

$550,000 to $599,999

132

68

71

5.8

98.8%

$600,000 to $649,999

76

46

114

5.0

98.5%

$650,000 to $699,999

82

41

114

6.0

97.0%

$700,000 to $749,999

35

15

118

7.0

97.6%

$750,000 to $799,999

55

18

73

9.2

99.1%

$800,000 to $849,999

17

10

135

5.1

97.8%

$850,000 to $899,999

41

11

169

11.2

98.0%

$900,000 to $949,999

15

4

109

11.3

93.2%

$950,000 to $999,999

35

10

199

10.5

96.7%

$1 mil to $1.50 mil

80

18

202

13.3

95.5%

$1.5 mil to $2.0 mil

31

4

152

23.3

89.6%

$2.0 mil & above

21

1

763

63.0

88.1%

www.ERAShields.com


QUARTERLY DATA Comparing data for the past 10 years

Quarterly Active Listings 6000 5000 4000 3000 2000 1000 0 2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

Active Listings at the end of the period when compared to the same period the previous 10 years show remarkable improvement.

1st Quarter Sales 3500 3000 2500 2000 1500 1000 500 0 2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

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


QUARTERLY DATA Comparing data for the past 10 years

Quarterly Average & Median Sales Prices 375000 325000

275000 225000 175000 125000

2008

2009

2010

2011

2012

2013 Average

2014

2015

2016

2017

2018

Median

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.

70%

60%

ODDS OF SELLING

50% 40%

30% 20%

0%

Under $75,000 $75,000 to $99,999 $100,000 to… $125,000 to… $150,000 to… $175,000 to… $200,000 to… $225,000 to… $250,000 to… $275,000 to… $300,000 to… $325,000 to… $350,000 to… $375,000 to… $400,000 to… $425,000 to… $450,000 to… $475,000 to… $500,000 to… $550,000 to… $600,000 to… $650,000 to… $700,000 to… $750,000 to… $800,000 to… $850,000 to… $900,000 to… $950,000 to… $1 mil to $1.50 mil $1.5 mil to $2.0 mil $2.0 mil & above

10%

The price range of your home dictates your odds of selling. Generally, the lower your price, the more potential buyers. www.ERAShields.com


SUMMARY 1st Quarter 2018 Residential Real Estate continues to sizzle in the metro area with record high prices and number of sales. On the surface you would think perhaps there is another real estate bubble ready to burst, however we do not think that to be the case. What is driving our market are the lack of listings and buyers buying homes as investments or 2nd homes. As we all know, when inventory is scarce, prices go up. And when demand is high prices go up. We have both of these and that is why prices are skyrocketing.

Investors and buyers of 2nd homes still have an appetite for homes in our area despite the large price increases we’ve seen in the past few years. The good news for local homeowners is the appreciation they have earned has allowed them to sell their less expensive home and buy a more expensive one. This is why in the past 2 years we have finally seen homes over $300,000 selling at a much higher rate. The bad news is buyers with small downpayments (often times 1st time home buyers) are having a difficult time getting sellers to accept their offers when sellers have multiple offers of which all cash and/or 20% buyers are much more attractive.

The long term solution to this lack of listing inventory crisis is higher mortgage rates. Although rates have increased this year, the investors and 2nd home purchasers still feel “the numbers work�. Until this changes, listing inventory will remain low pushing prices higher & higher.

Single Family Permits 600 500 400 300

200 100

2018

2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

www.ERAShields.com

2007

2006

2005

2004

2003

2002

2001

2000

1999

1998

1997

1996

1995

1994

1993

1992

1991

1990

1989

1988

1987

1986

1985

0

March 2018 Real Estate Market Stats  

QUICK FACTS  The number of Active Listings was down another 7% for the quarter.  The REAL Inventory Level remains near record levels at j...

March 2018 Real Estate Market Stats  

QUICK FACTS  The number of Active Listings was down another 7% for the quarter.  The REAL Inventory Level remains near record levels at j...

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