The Academy School District 20 Real Estate Market February 2022

By Murray & Associates – Keller Williams Colorado Springs 

 

Academy School District 20

 

The District 20 housing market remains VERY HOT! Homes continue to go under contract quickly with fewer new listings added to the market.  While we are seeing price reductions on overpriced homes, multiple offers remain the norm.

Months of inventory is down to 0.5 months, which remains well below the transition point for a “buyer’s market” of 4.0 to 6.0 months.

The average sales price for Academy District 20 last month broke the $600,000 mark and was $631,943. Sales price to list price ratio is 102.0% for D20 neighborhoods and the average concessions were $1254. The average days on market were 14 days. Most resale homes are under contract within the first week they are listed.

From One Year Ago:  Active listings are up 5.7%, pendings are down 6.7%, sold properties are down 15.3% – most likely due to the low inventory. Average sales price is up 9.2% and Median sales price is up 15.4%.

From One Month Ago: Active listings are down 24%. Sold properties are up 19%, and Pendings are up 10%. The average sales price is up 5% and median sale price is up 6%.

The pending ratio is a record breaking 84%. This means that 84% of the District 20 homes on the market are currently under contract.

This time last year we were just coming out of the lockdowns. Sellers were still reluctant to make a move. This year is a better year for sellers, but they are still reluctant to make a local move because of the prices.

Months of inventory is down to 0.5 months due to the extremely low inventory.

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

District 20 Homes Market Update

District 20 Sales Price

District 20 Inventory

This same chart using a line graph shows how homes are selling  (Sold – green) quicker than properties enter the market (New – red). Historically Active listings were well above Pendings and Solds.

District 20 Inventory Line Graph

I include this chart to show that distressed sales (red) are not impacting our market. These are usually estate sales.

District 20 Distressed Sales

 

District 20 Inventory Line Graph D20 Percent of Sales by price

 

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