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The Academy School District 20 Real Estate Market March 2022

By Murray & Associates – Keller Williams Colorado Springs 

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 Springs. Contact 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

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.

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

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

Colorado Springs MLS Market Update for March 2022

By Murray & Associates – Keller Williams Colorado Springs

For March, inventory for active listings is up 31% over February with average sales price and median sales price both up.

For Colorado Springs and surrounding areas the average Sales Price for last month was $539,684. The Median Sales Price was $475,000 and months of Inventory remains 0.5 months.

From One Year Ago: There are 35% more homes on the market (active listings) and the number of homes sold was up 1.4%.  Average sales price is up 12% and median sales price is up 14%. Months of inventory is the same at 0.5 months. New home starts are up 16%.

From One Month Ago: Active listings are up 31%.  Average sales price is up 4.6% and Median sales price is up 2.1%. Months of inventory remained the same at 0.5 months.  The number of new home starts are up 29.5%.

There is NO indication that the market is beginning to turn. Homes continue to appreciate in the double digits over one year ago, months of inventory remain low in comparison to sales, average days on market is low, and seller-paid concessions remain low.

Sellers continue to be reluctant to list their homes for fear of not finding another home if they are staying in the area, though we now have a program to solve this problem –  Buy Before you Sell.  Sellers that want to sell then buy are advised to plan for a way to prevent making a contingent offer or plan to move twice. Some buyers are allowing the sellers to rent back while they complete the purchase of another home. In this market, contingent offers continue to be difficult to get accepted.

For those that are 55 or older and have equity in their homes but are reluctant to downsize or upsize because of the price of homes, a Reverse Mortgage may be your answer.

New home permits are up 16%  from one year ago and up 29% from February.

Historically, the number of active properties far exceeded the number of sales, this flipped in June 2020. Demand for resale homes continues. With the increase in competition, buyers turned to building. Now builders are running out of lots and encountering supply chain and labor shortages. This is pushing buyers out of the market completely and most likely into apartments because there is a severe shortage of single-family rentals as well. Even with the recent interest rate increase, there is still no indication that the market is cooling off in Colorado Springs.

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

Real Estate News for Colorado Springs March 2022

Market Updates

Colorado Springs Real Estate Market Update

Academy District 20 Real Estate Market Update

Local Real Estate News

National Real Estate News

In January 2022, pending home sales were down 5.7% month-over-month.

January 2022 brought 6.5 million in sales, a median sales price of $350,300, and 1.6 months of inventory. The median sales price is up 15.4% year-over-year, and inventory was down 0.3 months from January 2021.

Seller Home Value Website

Find out what your home is worth.  Visit What is my Colorado Springs Home Worth? for a free pricing analysis.

Considering a career in Real Estate?

Check out this content-rich page about my experience changing careers from the Navy to selling real estate with Keller Williams with no regrets. Starting a Real Estate Career in Colorado Springs.

Download Mobile App and search for Properties Anywhere in the Country Enter Agent Code KW13Y92H if prompted

Facebook

Visit our public Facebook page http://www.facebook.com/asd20homes for the latest information on Colorado Springs Real Estate. “Like” us and receive updates as they are posted.

By Nancy Murray

Murray & Associates, Keller Williams Colorado Springs

The Academy School District 20 Real Estate Market February 2022

By Murray & Associates – Keller Williams Colorado Springs 

The District 20 housing market remains VERY HOT! Homes continue to go under contract quickly with fewer new listings added to the market.  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 broke the $600,000 mark and was $631,943. Sales price to list price ratio is 102.0% for D20 neighborhoods and the average concessions were $1254. The average days on market were 14 days. Most resale homes are under contract within the first week they are listed.

From One Year Ago:  Active listings are up 5.7%, pendings are down 6.7%, sold properties are down 15.3% – most likely due to the low inventory. Average sales price is up 9.2% and Median sales price is up 15.4%.

From One Month Ago: Active listings are down 24%. Sold properties are up 19%, and Pendings are up 10%. The average sales price is up 5% and median sale price is up 6%.

The pending ratio is a record breaking 84%. This means that 84% of the District 20 homes on the market are currently under contract.

This time last year we were just coming out of the lockdowns. Sellers were still reluctant to make a move. This year is a better year for sellers, but they are still reluctant to make a local move because of the prices.

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 Springs. Contact 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

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.

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

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

Colorado Springs MLS Market Update for February 2022

By Murray & Associates – Keller Williams Colorado Springs

For February, inventory dropped 11% over January with average sales price and median sales price both up.

For Colorado Springs and surrounding areas the average Sales Price for last month was $514,757. The Median Sales Price was $465,000 and months of Inventory is remains 0.5 months.

From One Year Ago: There are 5.4% more homes on the market (active listings) and the number of homes sold was up 3.5%.  Average sales price is up 12% and median sales price is up 13%. Months of inventory is the same at 0.5 months. New home starts are down 46%

From One Month Ago: Active listings are down 11%.  Average sales price is up 4% and Median sales price is up 4.5%. Months of inventory remained the same at 0.5 months.  The number of new home starts is down 8%.

There is NO indication that the market is beginning to turn. Homes continue to appreciate in the double digits over one year ago, months of inventory remain low, average days on market is low, and seller-paid concessions remain low.

Sellers continue to be reluctant to list their homes for fear of not finding another home if they are staying in the area, though we now have a program to solve this problem –  Buy Before you Sell.  Sellers that want to sell then buy are advised to plan for a way to prevent making a contingent offer or plan to move twice. Some buyers are allowing the sellers to rent back while they complete the purchase of another home. In this market, contingent offers continue to be difficult to get accepted.

For those that are 55 or older and have equity in their homes but are reluctant to downsize or upsize because of the price of homes, a Reverse Mortgage may be your answer.

New home permits are down 34%  from one year ago and up 15% from December.

Traditionally, the number of active properties far exceeds the number of sales, this flipped in June 2020. With the increase in competition, buyers turned to building. Now builders are running out of lots and encountering supply chain and labor shortages. This is pushing buyers out of the market completely and most likely into apartments because there is a severe shortage of single-family rentals as well. I don’t anticipate this changing in the near future unless interest rates increase or buyers begin to realize that homes are no longer affordable in Colorado Springs.

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

Real Estate News for Colorado Springs February 2022

Market Updates

Colorado Springs Real Estate Market Update

Academy District 20 Real Estate Market Update

Local Real Estate News

National Real Estate News

In December 2021, pending homes are down 3.8% month-over-month.

December 2021 brought 6.18 million in sales, a median sales price of $358,000, and  m1.8onths of inventory. The median sales price is up 15.8% year over year.

Seller Home Value Website

Find out what your home is worth.  Visit What is my Colorado Springs Home Worth? for a free pricing analysis.

Considering a career in Real Estate?

Check out this content-rich page about my experience changing careers from the Navy to selling real estate with Keller Williams with no regrets. Starting a Real Estate Career in Colorado Springs.

Download Mobile App and search for Properties Anywhere in the Country Enter Agent Code KW13Y92H if prompted

Facebook

Visit our public Facebook page http://www.facebook.com/asd20homes for the latest information on Colorado Springs Real Estate. “Like” us and receive updates as they are posted.

By Nancy Murray

Murray & Associates, Keller Williams Colorado Springs

Colorado Springs MLS Market Update for January 2022

By Murray & Associates – Keller Williams Colorado Springs

For January, inventory dropped 17% over December with median and average sales prices down slightly.

For Colorado Springs and surrounding areas the average Sales Price for December was $494,954. The Median Sales Price was $445,000 and months of Inventory is remains 0.5 months.

From One Year Ago: There are 19% more homes on the market (active listings) and the number of homes sold was up almost 9%.  Average sales price is up 12.4% and median sales price is up 13.5%. Months of inventory is the same at 0.5 months. New home starts are down 34%

From One Month Ago: Active listings are down 17%.  Average sales price is down 2% and Median sales price is down 1%. Months of inventory remained the same at 0.5 months.  The number of new home starts is up 15%.

Homes continue to appreciate in the double digits over one year ago, though have slowed down when looking at month-to-month appreciation over the last few months. Other indicators are not showing a turn down in the market, but if interest rates start to increase, this may happen quickly. Such indicators include months of inventory, days on market, and seller-paid concessions.

Sellers continue to be reluctant to list their homes for fear of not finding another home if they are staying in the area, though we now have a program to solve this problem –  Buy Before you Sell.  Sellers that want to sell then buy are advised to plan for a way to prevent making a contingent offer or plan to move twice. Some buyers are allowing the sellers to rent back while they complete the purchase of another home. In this market, contingent offers continue to be difficult to get accepted.

For those that are 55 or older and have equity in their homes but are reluctant to downsize or upsize because of the price of homes, a Reverse Mortgage may be your answer.

New home permits are down 34%  from one year ago and up 15% from December.

Traditionally, the number of active properties far exceeds the number of sales, this flipped in June 2020. With the increase in competition, buyers turned to building. Now builders are running out of lots and encountering supply chain and labor shortages. This is pushing buyers out of the market completely and most likely into apartments because there is a severe shortage of single-family rentals as well. I don’t anticipate this changing in the near future unless interest rates increase or buyers begin to realize that homes are no longer affordable in Colorado Springs.

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

The Academy School District 20 Real Estate Market January 2022

By Murray & Associates – Keller Williams Colorado Springs 

The District 20 housing market remains VERY HOT! Homes continue to go under contract quickly with fewer new listings added to the market.  While we are seeing price reductions on overpriced homes, multiple offers remain the norm.

Months of inventory is up to 0.8 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 $599,783. Sales price to list price ratio is 100.0% for D20 neighborhoods and the average concessions were $1099. The average days on market were 18 days. Most resale homes are under contract within the first week they are listed.

From One Year Ago:  Active listings are up 33%, pendings are up 5%, sold properties are the same. Average sales price is up 8% and Median sales price is the same.

From One Month Ago: Active listings are down 6%. Sold properties are down 10%, and Pendings are down 32%. The average sales price is up 2.8% and median sale price is up 3.3%.

The pending ratio is 78%. This means that 78% of the District 20 homes on the market are currently under contract.

This time last year we were just coming out of the lockdowns. Sellers were still reluctant to make a move. This year is a better year for sellers, but they are still reluctant to make a local move because of the prices.

Months of inventory is down to 0.8 months due to the extremely low inventory.

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.

Search all District 20 Homes for Sale

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.

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

Real Estate News for Colorado Springs January 2022

Market Updates

Colorado Springs Real Estate Market Update

Academy District 20 Real Estate Market Update

Local Real Estate News

National Real Estate News

In November 2021, pending homes are down 2.2% month-over-month.

November 2021 brought 6.46 million in sales, a median sales price of $353,900, and 2.1 months of inventory. The median sales price is up 13.9% year over year.

Seller Home Value Website

Find out what your home is worth.  Visit What is my Colorado Springs Home Worth? for a free pricing analysis.

Considering a career in Real Estate?

Check out this content-rich page about my experience changing careers from the Navy to selling real estate with Keller Williams with no regrets. Starting a Real Estate Career in Colorado Springs.

Download Mobile App and search for Properties Anywhere in the Country Enter Agent Code KW13Y92H if prompted

Facebook

Visit our public Facebook page http://www.facebook.com/asd20homes for the latest information on Colorado Springs Real Estate. “Like” us and receive updates as they are posted.

By Nancy Murray

Murray & Associates, Keller Williams Colorado Springs

The Academy School District 20 Real Estate Market December 2021

By Murray & Associates – Keller Williams Colorado Springs 

The District 20 housing market remains VERY HOT! Homes continue to go under contract quickly even with the seasonal slow down.  While we are seeing price reductions on overpriced homes, multiple offers remain the norm.

Months of inventory is down to 0.6 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 $607,081. Sales price to list price ratio is 100.0% for D20 neighborhoods and the average concessions were $1400. The average days on market were 22 days. Most resale homes are under contract within the first week they are listed.

From One Year Ago:  Active listings are up 34%, pendings are down 4.25%, sold properties are down 4.3%. Average sales price is up 8.5% and Median sales price is up 13.5%.

From One Month Ago: Active listings are down 6%. Sold properties are down 10%, and Pendings are down 32%. The average sales price is up 2.8% and median sale price is up 3.3%.

The pending ratio is 69%. This means that 69% of the District 20 homes on the market are currently under contract.

This time last year we were just coming out of the lockdowns. Sellers were still reluctant to make a move. This year is a better year for sellers, but they are still reluctant to make a local move because of the prices.

Months of inventory is down to 0.6 months due to the extremely low inventory.

As I previously predicted, the only distressed sales we are seeing are estate sales and corporate sales and not foreclosers or short sales. This is because the recent appreciation rate for the past two years has helped build equity for those in financial distress, allowing them to sell at a profit. This includes those that went into forebearance as a result of the COVID lockdowns.

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.

Search all District 20 Homes for Sale

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.

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