Market Report for Academy School District 20 July 2013
The Academy School District 20 Real Estate Market - July 2013
Active listings are up again this month at 607 and Pending sales are at 263 and sales are up at 181 in the Academy School District 20 area for the month of July. The pending ratio dropped this month due to the increase in sold properties but is still high at 30.1%. 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 98.6%, indicating that sellers are not having to negotiate much on their sales price.
Average sales price is up 6.6% from June at $333,808 and the median sales price is also up by 7.4% at $323,500.
Average days on market for Academy School District 20 is at 75 with inventory down to 3.3 months, clearly a seller's market.
We continue to see competing offers on nice homes in Academy School District 20. We will continue to see this with the inventory remaining relatively stable and demand high.
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.