Market Report for Briargate Colorado Springs May 2014
By Murray & Associates - Keller Williams Colorado Springs
There are currently 330 active listings, 190 pending sales, and 70 sales in the Briargate area of Academy School District 20 for the month of May. Briargate includes the popular District 20 neighborhoods of Pine Creek, Cordera, and Wolf Ranch. The pending ratio is up at 36.5%. 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 98.4%. This indicates that sellers do not need to negotiate on their price.
Average sales price was up to $317,544 and the median sales price was up again to $305,000.
Average days on market was down this month to 97 days for Briargate with 4.7 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.
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By Nancy Murray
Murray & Associates, Keller Williams Colorado Springs