The Academy School District 20 Real Estate Market January 2020
By Murray & Associates – Keller Williams Colorado Springs
Home sales in District 20 are still going strong for the winter months. Months of inventory is currently 1.7 months which remains well below the transition point of 4.0 to 6.0.
The average sales price for Academy District 20 is $458,468. Sales price to list price ratio is 99.3% for D20 neighborhoods. This means that on average, sellers are getting their list price and aren’t having to pay buyer concessions to do so, though they might have to lower their price to get an acceptable offer. Days on market is up to 58 days though this is driven by higher-priced homes that remain on the market longer.
From one month ago, Active listings are down 17%, and Pendings are down 26%. The pending ratio is still strong at 54%, meaning that 54% of the homes currently on the market are under contract with a buyer. Sold properties are down 49% over December. Average sales price is up 3.75% and median sales price is up 1%. Average days on market is up to 58 days. Distressed properties continue to be very low with no significant impact on the market.
From one year ago active listings are down 34%, pendings are up 4%, sold properties are up 5%, and average sales price is up 8% and Median sales price is up 10%.
The average days on market for all of D20 was 58 days in January. Months of inventory is up to 1.7 months which is the amount of time to sell all active properties at the same rate as of January. This is still at the level of a seller’s market. When it reaches 4 months it is considered a balanced market and above 6 months a buyer’s market.
Check out what has happened to District 20 prices over the past 9 1/2 years as a result of low inventory and high demand in my blog post Academy District 20 Real Estate Supply vs. Demand
More information on the buying process can be found in understanding the home buying process in Colorado Springs. Contact me if you would like to receive my Home Buyer Education emails that explain each step in detail.
|Months of Inventory||Average
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