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MONTHLY STAT PACK Data through July 31, 2018

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 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 document from which you may draw your own conclusions. We include a brief summary on the last page.

QUICK FACTS       

The number of Active Listings is slightly up .8% from the same time last year The number of Sales for the month slipped 3.2% for the month Single Family Building Permits are up 38% for the year The REAL Inventory Level is remains at 2.9 months Average Price was up 7.5% & Median Price is up 8.7% Just 47% of sales in the past month were under $300K, lowest for this period in years. Freddie Mac Mortgage rates bumped up to 4.6% 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

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

Listings

Solds

DOM

Inventory

Med List $

Med Sales $

SP/LP

Black Forest

67

23

35

2.9

$660,000

$557,000

98.3%

Briargate

196

122

45

1.6

$430,020

$409,950

100.1%

Calhan

17

6

50

2.8

$297,500

$352,500

97.0%

Central

73

84

10

0.9

$247,000

$254,750

100.0%

Drennan

13

1

2

13.0

$275,000

$160,000

100.0%

East

76

91

10

0.8

$270,000

$265,000

100.8%

Ellicott

28

18

18

1.6

$299,250

$266,200

100.3%

Falcon

19

10

20

1.9

$338,000

$305,900

98.8%

Falcon North

140

115

21

1.2

$350,000

$347,500

99.8%

Ftn Valley

242

273

18

0.9

$291,995

$279,900

100.6%

Manitou

23

8

18

2.9

$445,000

$445,500

99.7%

Marksheffel

91

39

15

2.3

$340,750

$320,628

100.1%

Northeast

128

88

8

1.5

$349,900

$294,250

100.8%

Northgate

134

57

40

2.4

$497,000

$450,000

99.5%

Northwest

63

47

25

1.3

$425,000

$419,000

99.1%

Old Colo City

37

29

21

1.3

$382,450

$325,000

100.4%

Peyton

16

6

29

2.7

$385,000

$422,500

99.5%

Powers

125

159

11

0.8

$315,000

$299,900

100.8%

Rock Creek

8

1

10

8.0

$687,450

$995,000

90.5%

Southeast

42

80

7

0.5

$235,000

$232,000

101.0%

Southwest

128

74

30

1.7

$649,000

$357,000

99.1%

Tri Lakes

156

79

37

2.0

$542,500

$507,000

99.1%

Ute Pass

14

5

22

2.8

$575,000

$345,000

98.3%

West

39

26

13

1.5

$381,300

$297,500

100.7%

Divide

45

15

38

3.0

$449,500

$310,083

98.1%

Woodland Park

68

25

10

2.7

$450,000

$337,500

98.9%

*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.

www.ERAShields.com


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 neighborhood is performing

List Price

Active Listings

Solds

Days on Market

Inventory

Supply

Demand

Days to Sell

Months

Under $75,000

11

1

13

11.0

$75,000 to $99,999

24

1

10

24.0

$100,000 to $124,999

24

6

30

4.0

$125,000 to $149,999

41

15

15

2.7

$150,000 to $174,999

38

18

14

2.1

$175,000 to $199,999

88

47

11

1.9

$200,000 to $224,999

149

75

11

2.0

$225,000 to $249,999

301

163

10

1.8

$250,000 to $274,999

332

174

13

1.9

$275,000 to $299,999

422

190

18

2.2

$300,000 to $324,999

355

131

15

2.7

$325,000 to $349,999

332

126

22

2.6

$350,000 to $374,999

294

73

24

4.0

$375,000 to $399,999

265

99

32

2.7

$400,000 to $424,999

167

46

39

3.6

$425,000 to $449,999

208

56

49

3.7

$450,000 to $474,999

151

22

49

6.9

$475,000 to $499,999

193

48

43

4.0

$500,000 to $549,999

191

48

58

4.0

$550,000 to $599,999

137

33

56

4.2

$600,000 to $649,999

98

22

47

4.5

$650,000 to $699,999

102

17

28

6.0

$700,000 to $749,999

37

10

73

3.7

$750,000 to $799,999

70

9

150

7.8

$800,000 to $849,999

49

2

50

24.5

$850,000 to $899,999

44

5

65

8.8

$900,000 to $949,999

18

2

99

9.0

$950,000 to $999,999

46

3

149

15.3

$1 mil to $1.50 mil

98

12

182

8.2

$1.5 mil to $2.0 mil

39

3

94

13.0

$2.0 mil & above

25

0

0

n/a

www.ERAShields.com


MONTHLY DATA MONTHLY DATA Comparing data for the past 10 years Comparing data for the past 10 years

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

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


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 Our local market looks to be slowing down...finally. Do not confuse “slowing” with “dropping”. For example, the sales prices in July did decrease from all-time highs which we almost always hit in June each year-this past July’s prices were the highest recorded for any July. The number of listings crept up less than 1%, still at extreme lows for this time of year. The more affordable parts of town are continuing to get more than their asking price, with the Southeast MLS area getting a full 1% more on average. Foreclosures continue to be very low which is also a good indicator that our market is healthy. Rising mortgage rates may be responsible for the slight slowdown in our local market, but we would argue that 7% appreciation is still too high to be sustainable and healthy. We also believe if there were more homes on the market there would be more salesthe lack of inventory continues to be a challenge for many buyers as they are either losing out in multiple offer situations or they just can’t find a home which meets their wants & needs.

www.ERAShields.com

RESIDENTIAL REAL ESTATE REVIEW - Through July 2018  

SOME QUICK FACTS  The number of Active Listings is slightly up .8% from the same time last year  The number of Sales for the month slipp...

RESIDENTIAL REAL ESTATE REVIEW - Through July 2018  

SOME QUICK FACTS  The number of Active Listings is slightly up .8% from the same time last year  The number of Sales for the month slipp...

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