Market Report for Academy School District 20 October 2013
The Academy School District 20 Real Estate Market - October 2013
Active listings remain about the same at 616 and with Pending sales down at 188 and sales up slightly to 113 in the Academy School District 20 area for the month of October. The pending ratio dropped again this month due to the slower buying season to 23.4%. 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, but as it declines with the slower fall/winter buying seasons, we will see prices drop and days on market increase.
The average sales price to list price ratio remains strong at 97.7%, indicating that sellers are not having to negotiate much on their sales price.
Average sales price is down slightly from September at $317,470 with the median sales price dropping slightly to $300,000.
Average days on market for Academy School District 20 is at 90.5 with inventory about the same at 5.5 months. With the slower buying season we will see prices drop and days on market increase.
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.