The Academy School District 20 Real Estate Market

April 2018

By Murray & Associates – Keller Williams Colorado Springs 

 

Academy School District 20

We are in the active spring buying season. Active listings are up 6.5% over March with Pending properties jumping 24%. Average sales price is up only 1.2% while median sales price dropped 4.3%. Average days on market for District 20 is 39 days which is an inventory of 1.7 months. Average concessions dropped to $750 (a record low). Distressed properties continue to be very low with no impact to the market. Pending ratio jumped to nearly 60%, meaning that 60% of the homes currently on the market are under contract with a buyer.

We did see an increase in sales from one year ago by 8%. Additionally, average sales price is up 8.8% and median sales price is up 3.0% from one year ago.

The average days on market for all of D20 dropped from 45 in March to 39 in April. Months of inventory is at 1.7 months which is the amount of time to sell all active properties at the same rate as of April, continued evidence of a very strong seller’s market.

This statement still holds true: Buyers need to act fast when a home appears on the market in their price range, or they risk losing the home to other buyers. It is recommended that buyers have their financing in order with a pre-approval letter for their mortgage in hand. Experienced agents have other strategies they can recommend to improve the chances of an offer being accepted.

Sellers still are reluctant to accept contingent offers unless the buyer’s home is already under contract, the sellers do not want to risk having to wait for a buyer’s home to sell. Sellers need to be ready to move within about two months after listing their home. If it is priced right, they will see multiple offers and a closing within 60 days most likely.

More information on the buying process can be found in understanding the home buying process in Colorado SpringsContact me if you would like to receive my Home Buyer Education emails that explain each step in detail.

Search all District 20 Homes for Sale

 

Active New Pending Sold Average
Price
Median
Price
Sales/List
Price
Average
CDOM
Months of Inventory Average
Concessions
Northgate 99 70 105 38 $494,777 $460,000 99% 87.7 3.3 $1,323
Flying Horse 39 14 31 11 $602,389 $583,500 98% 96 5.9 $751
Gleneagle 4 9 11 6 $431,633 $482,000 101% 59 1.75 $1250
Briargate 149 157 253 91 $401,662 $405,000 100% 61 2.7 $1,395
Cordera 33 18 24 14 $499,121 $475,000 100% 156 9.67 $0
Pine Creek 14 15 20 6 $454,750 $459,250 101% 62 1.3 $431
Wolf Ranch 14 15 78 23 $406,245 $417,500 100% 128 5.36 $1,390

Visit Colorado Springs Real Estate Market Update for the latest news in Real Estate.

Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”).  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market.

By Nancy Murray

Murray & Associates, Keller Williams Colorado Springs

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