february era shields stat pack
DESCRIPTION
ERA Shields February statistical report.TRANSCRIPT
MONTHLY STAT PACK Data through February 28, 2013
MONTHLY
RESIDENTIAL REVIEW
Welcome to the ERA Shields Stat Pack. The intention for providing this infor-
mation to you is to educate you on the current local real estate market so you
can better make decisions for you and your family. Real estate markets vary
from city to city as well as neighborhood to neighborhood. When the national
media reports on how the real estate market is doing, it is reporting on national
numbers and it is likely very different from how your neighborhood is perform-
ing. You will find factual data within The Stat Pack from which you may draw
your own conclusions. On the last page you will find a brief summary.
QUICK FACTS The number of Active Listings is down another 7% and over 31% from 2011
The number of Sales for the month jumped almost 40%
Single Family Building Permits are up 39% from January 2012
The Inventory Level is at its lowest level for the month of January in the last decade
The Average Sales Price is up over 11% while Median Sales Price jumped 19%
67.7% of sales in the past 3 months were $250K and under
Foreclosure starts in January are down nearly 22%
This graph compares the number of homes on the market to the number of
sales over the past 3 months and determines
how many months it would take to sell through the
current listing inventory. Most economists consider
6.0 months to be a bal-
The data found within the ERA Shields Real Estate Stat Pack is based on
information from the Pikes Peak REALTOR® Services Corporation
(RSC) or its PPMLS. This content is deemed reliable; however RSC,
PPMLS and ERA Shields Real Estate do not guarantee its accuracy. Data
maintained by RSC does not reflect all real estate activity in the market.
Additional sources include the Colorado Springs EDC, El Paso County
Assessor, El Paso County Trustee, Colorado Springs HBA, PPAR, The
Gazette, The CSBJ and NAR.
0.0
2.0
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6.0
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12.0
20132012201120102009200820072006200520042003
4.4
6.0
8.67.6
10.79.5
7.3
5.24.6
5.66.5
3-Month AverageMonths of Inventory
PRICING TOOLS Determine how your neighborhood is performing
Monthly Area Comparisons for Single Family & Patio Homes
This chart is ideal for helping you determine how your neighborhood is doing. If you are considering
selling your home, this information is just one tool you can reference to assist you with pricing
your home strategically. Call me if you need assistance utilizing this graph.
*Inventory = The number of months it would take to sell through the current active listings at the current sales
rate if no other homes came on the market.
**DOM = Days on Market for the homes which actually sold.
Area Listings Solds DOM Inventory Avg List $ Avg Sales $
Black Forest 103 11 106 9.4 $ 585,646 $ 339,265
Briargate 159 44 72 3.6 $ 353,630 $ 311,582
Calhan 19 3 179 6.3 $ 194,937 $ 97,333
Central 162 54 77 3.0 $ 229,530 $ 157,241
Drennan 8 2 62 4.0 $ 141,450 $ 102,250
East 137 40 67 3.4 $ 212,072 $ 172,537
Ellicott 32 4 122 8.0 $ 193,023 $ 159,975
Falcon 43 4 30 10.8 $ 256,317 $ 168,213
Falcon North 164 35 78 4.7 $ 300,054 $ 240,898
Fountain Valley 343 104 70 3.3 $ 208,980 $ 190,485
Manitou 26 4 56 6.5 $ 326,107 $ 283,375
Marksheffel 78 10 103 7.8 $ 264,676 $ 216,312
Midway 8 1 95 8.0 $ 172,400 $ 87,000
Northeast 138 44 72 3.1 $ 270,180 $ 239,082
Northgate 91 22 109 4.1 $ 448,392 $ 339,840
Northwest 80 26 64 3.1 $ 432,664 $ 306,746
Old Colorado City 46 16 58 2.9 $ 232,666 $ 200,955
Peyton 28 4 78 7.0 $ 361,841 $ 309,725
Powers 178 63 54 2.8 $ 235,675 $ 196,371
Rock Creek 5 0 0 n/a $ 813,580 $ -
Southeast 135 46 84 2.9 $ 149,354 $ 127,705
Southwest 204 21 81 9.7 $ 647,203 $ 314,939
Tri Lakes 188 24 122 7.8 $ 508,068 $ 385,870
Ute Pass 35 2 1 17.5 $ 432,807 $ 108,650
West 50 20 113 2.5 $ 503,134 $ 226,073
Divide 46 7 115 6.6 $ 488,379 $ 191,486
Woodland Park 78 13 82 6.0 $ 363,904 $ 258,235
PRICING TOOLS Determine how your neighborhood is performing
3-Month Price Range Comparisons Single Family & Patio Homes
This chart is ideal for helping you determine how your neighborhood
is doing. If you are considering selling your home, this information is
just one tool you can reference to assist you with pricing your home strategically. If you have questions on how to properly use this data,
call me.
List Price Active/Pending Solds Days on Market Inventory
Supply Demand Days to Sell Months
Under $75,000 83 18 71 4.6
$75,000 to $99,999 141 25 101 5.6
$100,000 to $124,999 193 29 74 6.7
$125,000 to $149,999 350 52 98 6.7
$150,000 to $174,999 395 71 93 5.6
$175,000 to $199,999 429 92 89 4.7
$200,000 to $224,999 310 67 99 4.6
$225,000 to $249,999 388 57 112 6.8
$250,000 to $274,999 284 34 124 8.4
$275,000 to $299,999 262 33 117 7.9
$300,000 to $324,999 164 15 135 10.9
$325,000 to $349,999 215 30 160 7.2
$350,000 to $374,999 118 18 109 6.6
$375,000 to $399,999 146 22 121 6.6
$400,000 to $424,999 80 6 175 13.3
$425,000 to $449,999 94 12 177 7.8
$450,000 to $474,999 59 7 127 8.4
$475,000 to $499,999 85 5 106 17.0
$500,000 to $549,999 78 4 229 19.5
$550,000 to $599,999 71 3 320 23.7
$600,000 to $649,999 46 4 234 11.5
$650,000 to $699,999 41 2 114 20.5
$700,000 to $749,999 20 1 528 20.0
$750,000 to799,999 27 1 42 27.0
$800,000 to $849,999 5 0 0 n/a
$850,000 to $899,999 16 1 151 16.0
$900,000 to $949,999 7 0 0 n/a
$950,000 to $999,999 16 0 0 n/a
$1 mil to 1.499 mil 50 2 462 25.0
$1.5 mil to 1.999 mil 22 0 0 n/a
$2 mil & above 8 0 0 n/a
3-MONTHS OF DATA COMPARING DATA FOR THE PAST 10 YEARS
This graph shows the total number of Solds for the past 3 months. Comparing 3-months of data over the past 10 years helps determine what trends are occurring.
Active Listings at the end of the month when compared to the same 3-month period the previous 10 years shows remarkable improvement.
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30353223
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Active Listings
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3-Months of Sales
3-MONTHS OF DATA COMPARING DATA FOR THE PAST 10 YEARS
The Average & Median Sales Prices for the same month over the past 10 years. The “bubble” is rather noticeable in 2004-2009. 10 years of data helps you better
gauge the current health of the local real estate market.
The price range your home is within, dictates your odds of selling. Generally the lower your price, the more potential buyers.
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$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
$270,000
20132012201120102009200820072006200520042003
Average
Median
February 2013 Summary
February was a solid month for the local housing market and continued the trend of the market strengthening. Inventory is a problem with a lack of homes on the market while buyer activity is pretty good. Foreclosures continue to trend down and fewer and fewer short sales are seen all the while hew home building starts trends up. These factors bode well for the housing market for 2013, which we expect to be good. Hard to believe we are saying mortgage rates have jumped up to 3.75% or so. The one fear we have is younger buyers may become concerned with the mortgage rates creeping up as their only comparison being the 3.5% and below of the past year. Historically, a low rate is any-thing under 6%. Hopefully buyers will realize this as rates continue to move up, although it will affect how much home they can afford.