Market Report for Academy School District 20 December 2014
The Academy School District 20 Real Estate Market
By Murray & Associates - Keller Williams Colorado Springs
Listings in Academy District 20 are down to 428 active listings, this is a decrease of 17% from November and 10% from one year ago. Pending sales dropped 57% from November and 31% from one year ago. It is typical for this number to drop due to the holiday season and buyers wanting to close before the holidays, but this is much lower than in the recent past. Sales are down 28% from November and 51% from one year ago. The pending ratio is down significantly to 18%. 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. Many sellers are removing their homes from the market during the holiday season, which reduces the inventory, but the real story is the months of inventory. One year ago, the inventory was 6.7 months, for December it was 2.8 months. If you are considering selling your home, now is the time before the competition increases.
The average sales price to list price ratio dropped to 97.6%, indicating that sellers are negotiating a bit more on their price than recent months, which is normal for the winter months.
Average sales price is up to $321,495 for December and median sales price is $295,000.
Average days on market for Academy School District 20 was 126 with inventory at 2.8 months.
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.
See all available homes for sale in Academy School District 20.
By Nancy Murray
Murray & Associates, Keller Williams Colorado Springs