The Academy School District 20 Real Estate Market June 2020
By Murray & Associates – Keller Williams Colorado Springs
Buyer demand for houses continues while sellers are reluctant to sell during COVID-19.
District 20 remains in a Seller’s market. Months of inventory is currently 1.3 months which is down from 1.9 in May, this remains well below the transition point of 4.0 to 6.0.
The average sales price for Academy District 20 last month was $532,371. Sales price to list price ratio is 99.9% for D20 neighborhoods and the average concessions were $1,946. Days on market is down significantly to 29 days.
From one month ago, Active listings are down 7.1%. Sold properties are up 27.7%, and Pendings are up 13%. The pending ratio jumped to 59%. This means that 59% of the homes on the market are currently under contract. It is not surprising to see the pending ratio and sales increase because COVID-19 prevented agents from showing properties for most of April. Average sales price is up 11% and median sales price is up 16.5%.
From one year ago active listings are down 31%, pendings are up 21%, sold properties are down 14.3%, average sales price is up 16.5% and Median sales price is up 10%.
The average days on market for all of D20 was 29 days in June. Months of inventory is down to 1.3 months which is the amount of time to sell all active properties at the same rate as of June, due to the low inventory, properties will continue to sell quickly.
For more information on how COVID-19 impacted the Academy District 20 real estate market visit COVID-19 the Perfect Storm for Sellers.
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.
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