Market Report for Academy School District 20 August 2013
The Academy School District 20 Real Estate Market - August 2013
Active listings are up again this month at 619 and with Pending sales down at 225 and sales down at 164 in the Academy School District 20 area for the month of August. The pending ratio dropped this month due to the increase in sold properties but is still high at 36.6%. The pending ratio represents the supply and demand of the market. The higher the ratio, the greater the demand. A low ratio indicates more supply than demand. As this number creeps up, the prices will increase and we will see more competing offers.
The average sales price to list price ratio remains high at a healthy 98.2%, indicating that sellers are not having to negotiate much on their sales price.
Average sales price is down 2.3% from July at $326,225 and the median sales price is also down by 4.6% at $308,500.
Average days on market for Academy School District 20 is at 91 with inventory sitting at 3.8 months, still a seller's market.
As the summer buying season comes to a close, we will more than likely see the inventory and days on market increase while the prices start to decline.
Visit the market updates for popular D20 neighborhoods: Briargate to include Cordera, Pine Creek, and Wolf Ranch, Northgate to include Flying Horse and Gleneagle, Northwest to include Peregrine and Rockrimmon.
Compare demographics for Colorado Springs zip codes with other zip codes in Colorado Springs or the nation, visit the Colorado Springs Market Insider.