Market Report for Briargate Colorado Springs March 2014
By Murray & Associates - Keller Williams Colorado Springs
There are currently 258 active listings, 132 pending sales, and 46 sales in the Briargate area of Academy School District 20 for the month of March. Briargate includes the popular District 20 neighborhoods of Pine Creek, Cordera, and Wolf Ranch. The pending ratio increased significantly to 33.7%. 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. Briargate continues to be in high demand as evidenced by the pending ration, even for the slower winter season.
The average sales price to list price ratio remained the same at 98.3%. This indicates that sellers do not need to negotiate on their price.
Average sales price was down to $280,135 and the median sales price was down to $245,000.
Average days on market are up again this month to 129 days for Briargate with 5.6 months of inventory. Still a transition market but leaning toward a seller's market.
For information about listing your Briargate home for sale, visit Selling Your Colorado Springs Home.
Compare demographics for Colorado Springs zip codes with other zip codes in Colorado Springs or the nation, visit the Colorado Springs Market Insider.
By Nancy Murray
Murray & Associates, Keller Williams Colorado Springs