The Academy School District 20 Real Estate Market March 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 even with more listings added each month.  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 was $676,718 and the median price was $631,000. Sales price to list price ratio is 103% for D20 neighborhoods and the average concessions were $1,019. The average days on market was up to 28 days due to several luxury-priced homes that sold this month. Most resale homes are under contract within the first week they are listed.

From One Year Ago:  Active listings are up 25%, pendings are down 15%, sold properties are down 4.5% – most likely due to the low inventory. Average sales price is up 3.6% and Median sales price is up 17.27%.

From One Month Ago: Active listings are up 43%. Sold properties are up 27.6%, and Pendings are the same. The average sales price is up 6.6% and median sale price is up 3.5%.

The pending ratio is at 74%. This means that 74% of the District 20 homes on the market are currently under contract.

Sellers are still reluctant to make a move in this market, especially if they want to stay in the area because buying a replacement home is difficult in this market.

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 Real Estate Summary

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

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

District 20 Distressed Properties

 

Days on Market

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