November Stat Pack
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Transcript of November Stat Pack
MONTHLY STAT PACK Data through November 30 , 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 Number of Active Listings continues to trend up—a 10% rise from a year ago
Number of Sales dipped for the month 4.3%
Single Family Building Permits are up nearly 20% for the year
Inventory Levels increased by 30 days
Average Sales Price is up 7% while Median Sales Price is up 8% for the month
64% of sales in the past 3 months were $250K and under
Foreclosure starts for the year are down 45%
This graph compares the number of homes on the market to the number of
sales for the month. It shows how many months it would take to sell through the current listing invento-ry. Most economists con-sider 6.0 months to be a
balanced market.
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.
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Average Months 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 Comparisons for Single Family & Patio Homes
For November 2013
Area Listings Solds DOM Inventory Avg List $ Avg Sales $
Black Forest 98 18 100 5.4 $613,807 $437,289
Briargate 249 48 64 5.2 $355,281 $276,425
Calhan 29 6 266 4.8 $221,558 $148,167
Central 183 48 62 3.8 $241,260 $179,727
Drennan 14 1 11 14.0 $195,109 $97,000
East 184 41 70 4.5 $221,899 $174,844
Ellicott 34 4 161 8.5 $279,735 $198,625
Falcon 43 13 57 3.3 $231,550 $179,735
Falcon North 185 36 85 5.1 $316,050 $286,938
Fountain Valley 399 99 70 4.0 $211,806 $198,798
Manitou 27 4 134 6.8 $456,880 $385,975
Marksheffel 67 11 75 6.1 $300,854 $256,958
Midway 8 0 n/a n/a $216,700 n/a
Northeast 207 48 68 4.3 $306,700 $241,301
Northgate 105 26 86 4.0 $465,149 $359,187
Northwest 160 25 77 6.4 $437,951 $370,361
Old Colorado City
67 17 72 3.9 $231,556 $180,386
Peyton 29 6 71 4.8 $522,105 $227,833
Powers 242 67 49 3.6 $237,363 $220,323
Rock Creek 9 2 58 n/a $882,756 $242,500
Southeast 135 43 61 3.1 $148,872 $131,658
Southwest 253 41 89 6.2 $719,648 $300,737
Tri Lakes 205 21 113 9.8 $540,455 $434,211
Ute Pass 37 3 103 12.3 $405,116 $203,000
West 58 14 78 4.1 $667,589 $342,915
Divide 80 6 145 13.3 $405,358 $171,582
Woodland Park 86 18 71 4.8 $479,382 $284,919
PRICING TOOLS Determine how your neighborhood is performing
Monthly 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 Listings Solds Days on Market Inventory
Supply Demand Days to Sell Months
Under $75,000 113 10 87 11.3
$75,000 to $99,999 119 18 119 6.6
$100,000 to $124,999 208 29 102 7.2
$125,000 to $149,999 379 63 92 6.0
$150,000 to $174,999 397 77 93 5.2
$175,000 to $199,999 456 62 84 7.4
$200,000 to $224,999 387 53 90 7.3
$225,000 to $249,999 412 83 102 5.0
$250,000 to $274,999 336 46 148 7.3
$275,000 to $299,999 352 38 89 9.3
$300,000 to $324,999 209 19 131 11.0
$325,000 to $349,999 194 26 105 7.5
$350,000 to $374,999 177 23 98 7.7
$375,000 to $399,999 194 20 102 9.7
$400,000 to $424,999 88 7 299 12.6
$425,000 to $449,999 99 6 112 16.5
$450,000 to $474,999 53 9 95 5.9
$475,000 to $499,999 88 11 166 8.0
$500,000 to $549,999 91 9 181 10.1
$550,000 to $599,999 109 8 77 13.6
$600,000 to $649,999 60 2 245 30.0
$650,000 to $699,999 70 5 74 14.0
$700,000 to $749,999 39 2 98 19.5
$750,000 to $799,999 44 1 67 44.0
$800,000 to $849,999 15 0 n/a n/a
$850,000 to $899,999 21 0 n/a n/a
$900,000 to $949,999 17 1 654 17.0
$950,000 to $999,999 28 0 n/a n/a
$1 mil to $1.50 mil 75 4 132 18.8
$1.5 mil to $2.0 mil 29 0 n/a n/a
$2.0 mil & above 21 0 n/a n/a
MONTHLY DATA COMPARING DATA FOR THE PAST 10 YEARS
This graph shows the total number of Solds for the same period. Comparing monthly 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 month the previous 10 years shows remarkable improvement.
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Active Listings
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Last 3 Months of Sales
MONTHLY DATA COMPARING DATA FOR THE PAST 10 YEARS
The Average & Median Sales Prices for the same month over the past 10 years. 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.
$150,000
$170,000
$190,000
$210,000
$230,000
$250,000
$270,000
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Average
Median
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November 2013 Summary
This year will historically be remembered as the year the local real estate market recovered from the Great Recession. The number of sales jumped by 20% and is now at a very sustaina-ble rate for the Colorado Springs metro area. Another very positive number this year has been home prices which will end the year somewhere between 7%-10%. Prices were driven up by the demand as well as a lack of inventory for most of this year. For buyers, this year has been a mixed bag. Those who found a home to purchase found values are still outstanding despite a bump in rates. However, due to the lack of inventory many “would be” buyers are still waiting for an acceptable home. The good news for this group is inventory is inching up, the bad news is so are the costs associated with getting a loan. As 2013 comes to an end, the residential real estate market in the Colorado Springs area is healthy. However, there is much uncertainty around the financial health of the federal govern-ment and the impacts of the new healthcare system. For those in the real estate & mortgage industries, 2014 is also a year of uncertainty as something known as QM, QRM and ATR rolls out January 1. Be sure to watch for our Annual Stat Pack where we will go into detail about what this means as well as what you can expect in 2014 as it relates to home sales.