The Academy School District 20 Real Estate Market March 2019

By Murray & Associates – Keller Williams Colorado Springs 

 

Academy School District 20

The strong sellers market continues this month for Academy District 20 neighborhoods.

We still are not seeing a big increase in the seller concessions in most District 20 neighborhoods and sales price to list price ratio is 99.6% for D20 neighborhoods. This means that sellers are still getting close to their list price and aren’t having to pay in concessions to do so. Days on market are just over 2 months, which is still a seller’s market.

From one month ago, Active listings are up 14%, and Pendings are up 12.8%. The pending ratio is 50.5%, meaning that half of the homes currently on the market are under contract with a buyer. Sold properties are about the same at 148 sales. Average sales price is up 4.5% and median sales price is up 7.4%.  Average days on market dropped to 56 days. Distressed properties continue to be very low with no significant impact on the market.

From one year ago active listings are up 8%, pendings are up 17%, sold properties down slightly at 1.4%, and average sales price is up 7.4% and Median sales price up 8%.

The average days on market for all of D20 was 56 days in March. Months of inventory is up slightly at 2.2 months which is the amount of time to sell all active properties at the same rate as of March. 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.

We expect the market to start speeding up with more listings on the market, more buyers in the market, and lower days on market. Buyers are encouraged to act fast when they find the right home, and sellers still need to price to sell based on comparable sold properties and be prepared to negotiate on sales price if they need to sell quickly.

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 Real Estate Market Summary

District 20 Home Prices

District 20 Homes for Sale Inventory

District 20 Distressed Homes for Sale

District 20 Days on Market

ASD20 Percent by Sales Price

 

 

Active New Pending Sold Average
Price
Median
Price
Sales/List
Price
Average
CDOM
Months of Inventory Average
Concessions
Northgate 110 77 92 44 $504,259 $457,000 99.3% 84 2.5 $1384
Flying Horse 39 22 25 12 $602,569 $500,00 98.6% 146 3.25 $917
Gleneagle 9 10 8 4 $400,750 $404,500 100% 67 2.25 $1500
Briargate 142 122 165 69 $426,203 $425,000 99.9% 54 2.0 $1631
Cordera 40 26 25 12 $530,899 $480,700 99.7% 103 1.6 $1667
Pine Creek 10 6 11 3 $546,667 $565,000 90.6% 112 3.33 $733
Wolf Ranch 49 20 44 13 $480,394 $468,888 100% 80 3.7 $1846

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