stat pack - 2nd quarter
DESCRIPTION
ERA Shields Real Estate 2nd Quarter Market Statistics.TRANSCRIPT
MONTHLY STAT PACK Data through June 30, 2013
QUARTERLY
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 num-
bers and it is likely very different from how your neighborhood is performing.
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 ABOUT 2ND QUARTER The number of Active Listings for the quarter were up 4.4%
The number of Sales for the quarter were up 595 units (23% jump)
Single Family Building Permits are up 41%
The Average Inventory Level over the Quarter is down to 3.5 months (4.4 in 2012)
The Average Sales Price and Median Sales Price both increased 3.9% & 6.5%
62% of sales in this quarter were $250K & under compared to 66% in 2012
Foreclosure starts YTD are down 683 units (39%)
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 Regional Business
Alliance, El Paso County Assessor, El Paso County Trustee, Colorado
Springs HBA, PPAR, The Gazette, The CSBJ and NAR.
This graph compares the
number of homes on the
market to the number of
sales over the past 3
months for El Paso County
and determines how many
months it would take to sell
through the current listing
inventory. Most economists
consider 6.0 months to be a
balanced market.
QUARTERLY PRICING TOOLS Determine how your neighborhood is performing
3-Month 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.
For April 1, 2013 - June 30, 2013
Area Listings Solds DOM Inventory Avg List $ Avg Sales $
Black Forest 136 48 111 8.5 $514,617 $388,576
Briargate 221 238 66 2.8 $366,350 $313,490
Calhan 30 11 104 8.2 $222,355 $179,123
Central 201 190 62 3.2 $236,145 $187,355
Drennan 20 2 24 30.0 $175,643 $127,500
East 161 201 56 2.4 $229,137 $183,159
Ellicott 36 23 94 4.7 $208,606 $177,151
Falcon 41 25 103 4.9 $269,182 $191,921
Falcon North 174 153 68 3.4 $307,964 $258,007
Fountain Valley 357 445 60 2.4 $218,603 $189,877
Manitou 38 25 55 4.6 $382,636 $311,116
Marksheffel 54 43 82 3.8 $285,566 $222,136
Midway 8 7 45 3.4 $176,688 $153,700
Northeast 228 255 40 2.7 $295,236 $234,895
Northgate 132 103 78 3.8 $456,080 $392,343
Northwest 155 97 58 4.8 $464,084 $336,081
Old Colorado City 60 69 50 2.6 $245,144 $197,286
Peyton 30 17 147 5.3 $446,107 $273,521
Powers 283 319 50 2.7 $241,691 $217,616
Rock Creek 12 6 33 n/a $588,550 $343,083
Southeast 132 181 63 2.2 $144,733 $138,701
Southwest 296 175 76 5.1 $643,595 $368,211
Tri Lakes 222 174 75 3.8 $543,213 $410,400
Ute Pass 49 11 101 13.4 $392,154 $252,932
West 62 58 55 3.2 $483,835 $235,783
Divide 84 27 112 9.3 $415,811 $256,638
Woodland Park 117 78 78 4.5 $458,086 $269,558
QUARTERLY PRICING TOOLS Determine how your price range is performing
3-Month Price Range 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. If you have questions on how to properly use this data, call me.
List Price Active Listings Solds Days on Market Inventory
Supply Demand Days to Sell Months
Under $75,000 121 69 103 5.3
$75,000 to $99,999 173 110 100 4.7
$100,000 to $124,999 234 143 104 4.9
$125,000 to $149,999 431 247 95 5.2
$150,000 to $174,999 507 320 97 4.8
$175,000 to $199,999 559 398 80 4.2
$200,000 to $224,999 458 288 86 4.8
$225,000 to $249,999 526 324 84 4.9
$250,000 to $274,999 388 239 72 4.9
$275,000 to $299,999 426 184 97 6.9
$300,000 to $324,999 214 108 96 5.9
$325,000 to $349,999 307 147 94 6.3
$350,000 to $374,999 177 95 111 5.6
$375,000 to $399,999 234 96 114 7.3
$400,000 to $424,999 118 49 95 7.2
$425,000 to $449,999 148 65 111 6.8
$450,000 to $474,999 87 32 108 8.2
$475,000 to $499,999 142 35 149 12.2
$500,000 to $549,999 125 43 104 8.7
$550,000 to $599,999 125 29 110 12.9
$600,000 to $649,999 78 19 159 12.3
$650,000 to $699,999 65 23 181 8.5
$700,000 to $749,999 40 12 160 10.0
$750,000 to $799,999 50 12 162 12.5
$800,000 to $849,999 18 1 1154 54.0
$850,000 to $899,999 29 5 158 17.4
$900,000 to $949,999 9 1 110 27.0
$950,000 to $999,999 20 1 138 60.0
$1 mil to $1.50 mil 97 8 480 36.4
$1.5 mil to $2.0 mil 32 3 80 32.0
$2.0 mil & above 15 1 87 45.0
3-MONTHS OF DATA COMPARING DATA OVER THE PAST 10 YEARS
Average Active Listings for the Quarter when compared to the same
period the previous 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.
3-Months of Solds
Active Listings
3-MONTHS OF DATA COMPARING DATA OVER THE PAST 10 YEARS
The Average & Median Sales Prices for the same quarter over the past 10 years.
The price range your home is within, dictates your odds of selling.
Generally the lower your price, the more potential buyers.
2nd Quarter Review 2013
With 6 months behind us, it is obvious the residential real estate market in the Pikes Peak
region is very healthy. Although the market changed rather quickly, the results from the
past quarter are sustainable. Here are some facts to support the health & sustainability of
the local market;
Sales in 2013 are up 750 units from the lows of 2009. We are still 572 units below the
heights of 2005.
Average Sales Price at $246k vs $215k in 2011. In 2007 the average was $265k.
Single family home starts are at 1576 vs 647 in 2009. In 2005 we saw 3468.
In 2010 foreclosure starts were at 1732 at this time. This year we have seen 1049.
It is good to see the number of homes sold over $250k continue to rise to a more normal
rate of 62% vs the 72% we were seeing just 2 years ago.
One concern we continue to have locally is the low number of homes on the market. The
number of homes on the market has finally stopped dropping, but there is a real lack of
supply for buyers. This lack of inventory has forced many buyers to either “settle” on a
home or delay their purchase. For sellers who have had to delay selling their home over the
past 5 years, many are finding they can now afford to sell.
As a REALTOR, one number we generally hate to see rise is the mortgage rate. In the
past month we have seen rates jump from around 3.5% to 4.5%. The reality is rates this low
are not sustainable and we expect rates in the next 12-18 months to settle-in above 5%. A
1% jump in rates on an average home costs the buyer an additional $100+ each month.