Market Report for Academy School District 20 September 2013
The Academy School District 20 Real Estate Market - September 2013
Active listings are up slightly this month at 626 and with Pending sales down at 212 and sales down significantly at 109 in the Academy School District 20 area for the month of September. The pending ratio dropped significantly this month due to the slower buying season to 25.3%. 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 98.3%, indicating that sellers are not having to negotiate much on their sales price.
Average sales price remains about the same from August at $327,648 and the median sales price dropped slightly to $304,110.
Average days on market for Academy School District 20 is at 86 with inventory increasing from 3.8 months in August to 5.7 months. This increase is telling us that there are fewer buyers, common with the fall/winter 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.