The Academy School District 20 Real Estate Market July 2019
By Murray & Associates – Keller Williams Colorado Springs
The summer market is over with our slower season beginning with the start of school.
District 20 real estate market remains a strong seller’s market. Average seller concessions increased slightly, but again, not enough to concern sellers. Sales price to list price ratio is 99.9% 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 are up to 1.8 months.
From one month ago, Active listings are up 3%, and Pendings are down 8%. The pending ratio is 44%, meaning that 44% of the homes currently on the market are under contract with a buyer. This is down 3% from the previous month. Sold properties are down 17%. Average sales price is essentially unchanged and median sales price is up 1%. Average days on market dropped to 29 days. Distressed properties continue to be very low with no significant impact on the market.
From one year ago active listings are down 4%, pendings are up 1%, sold properties are the same, and average sales price is up 6% and Median sales price up 5%.
The average days on market for all of D20 was 29 days in July. Months of inventory is up to 1.8 months which is the amount of time to sell all active properties at the same rate as of July. 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.
The slower season is upon us with school beginning. We typically see a slow down from mid-August until late October when buyers start looking again for a move during the holidays. Sellers are encouraged to price aggressively is they need to sell quickly. Buyers will have more properties to choose from as the market slows down.
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.
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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