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10 www.csrej.com Colorado Springs Real Estate Journal April 25, 2016
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Colorado Springs AreaHousing Stats Dashboard and Sales Analysis
Compiled and analyzed by:Jay Gupta, BME MA MRE CRS CMRS SRES CDPE2008 PPAR Chairman and 2010 REALTOR® of the Year
CAR Research Committee Southeast District SpokespersonWith over 2-Billion in personal and managed sales
Berkshire Hathaway Home Services Rocky Mountain, REALTORS®
For comments & questions, please contact: [email protected]
Housing Stats DashboardSingle Family/Patio Homes
Sold Through Pikes Peak MLSMonth / Year / Change % March 2015 March 2016 ChangeNew Listings 1,623 1,790 10.3%Active Listings 2,538 1,941 (23.5)%Monthly Sales 1,009 1,172 16.2%YTD Sales 2,362 2,891 22.4%% of Active Listings Sold 39.8% 60.4% 20.6%Monthly Sold Volume $261,686,672 $314,108,763 20.0%YTD Sold Volume $605,850,638 $773,200,841 27.6%Median Price $225,000 $239,500 6.4%Average Price $259,352 $268,010 3.3%% of List Price Received 98.5% 99.3% 0.8%Average Days on Market 99 47 (52.5)%Months' Supply 2.5 months 1.7 months (32.0)%% of Sold Listings … Sold in 0 to 30 Days 22.4% 61.8% 39.4%… Sold in 31 to 60 Days 25.7% 12.2% (13.5)%… Sold in 31 to 90 Days 11.9% 8.4% (3.5)%… Sold in 91 to 120 Days 9.4% 5.3% (4.1)%… Sold in 121+ Days 30.6% 12.3% (18.3)%
Sales AnalysisSingle Family/Patio Homes Sold Through Pikes Peak MLS
Month and Year March 2015 March 2016Price Range
Under $199,999 38.6% 0.6 months 29.4% 0.5 months$200,000 to $299,999 36.6% 1.9 months 45.1% 1.0 months$300,000 to $399,999 15.1% 3.4 months 14.8% 2.5 months$400,000 to $499,999 4.7% 6.1 months 5.2% 5.0 months$500,000 to $599,999 2.6% 7.2 months 3.2% 4.1 months$600,000 to $799,999 1.1% 14.9 months 1.7% 8.7 months$800,000 to $999,999 0.9% 6.6 months 0.2% 42.5 months$1 million to $1,999,999
0.3% 26.3 months 0.2% 46.0 months
Over $2 million 0.1% 15.0 months 0.1% 29.0 monthsDisclaimer: Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) for March 2015 and 2016.RSC information may not reflect all real estate activity in the market. RSC information and the information presented above is provided as is and is not guaranteed or warranted. © Copyright Jay Gupta. All rights reserved. Unauthorized reproduction is strictly prohibited.
Disclaimer: Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) for March 2015 and 2016. RSC information may not refl ect all real estate activity in the market. RSC information and the information presented above is provided as is and is not guaranteed or warranted. © Copyright Jay Gupta. All rights reserved. Unauthorized reproduction is strictly prohibited.
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Jay Gupta, BME MA MRE CRS CMRS SRES CDPE2008 PPAR Chairman and 2010 REALTOR® of the YearCAR Research Committee Southeast Region SpokespersonWith over 2-Billion in personal and managed salesBerkshire Hathaway Home Services Rocky Mountain, REALTORS®
For comments & questions, please contact: [email protected]
C O L O R A D O S P R I N G S A R E A
Housing Stats Dashboard and Sales Analysis
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Observations and Remarks:• For Sale Properties Listed Un-
der $400,000 – � e listing inventory is drastically low in this price range. For sellers in this price range it is a great time to sell as there are plenty of buyers ready and willing to buy.
• For Sale Properties Listed Over $800,000 – � e sales are moving-slow in this price range. For buyers in this price range it is a great time to buy as there are plenty of properties to choose from and there are motivat-ed sellers. It is indeed an opportune time for those who are contemplating an upward move.
• Th e Interest Rates are still at historical low but the Fed is signaling some increases in the coming months. It is crucially important to remember that every 1% increase in the inter-
est rate reduces the buying power by about 10%. For example, the principal and interest payments on a $200,000 loan at 4 % are $955/month (P&I). With 1% increase in the interest rate to 5%, for the same monthly pay-ments the borrower would be able to borrow only $178,000. During the 2005 – 2006 record se� ing real estate market, the interest rates were hovering around 6%. � e current his-torical low interest rates are providing � nancially quali� ed home buyers an incredibly a� ordable opportunity to stretch their buying power.
• Note: Even in a hot real estate market not every property listed For Sale sells; buyers generally buy re-alistically priced properties o� ering competitive values.
See Housing Stats | 12
12 www.csrej.com Colorado Springs Real Estate Journal April 25, 2016
Local NewsHistorical Monthly Sales Data Comparison – For Single Family/Patio Homes
For the Month of March – From 2000 to 2016Compiled and analyzed by:
Jay Gupta, BME MA MRE CRS CMRS SRES CDPE2008 PPAR Chairman and 2010 REALTOR® of the Year
CAR Research Committee Southeast District SpokespersonWith over 2-Billion in personal and managed sales
Berkshire Hathaway Home Services Rocky Mountain, REALTORS®
For comments & questions, please contact: [email protected]
Lowest Inventory Level Since 2000 Historically Record March
Mo / Year ActiveListings
MonthlyHome Sales
YTDHome Sales
MonthlySales
Volume
YTDSales
Volume
MonthlyAverage
Price
MonthlyMedianPrice
Mar 2016 1,941 1,172 2,891 $314,107,720 $773,198,332 $268,010 $239,500Mar 2015 2,538 1,009 2,362 $261,686,168 $605,895,371 $259,352 $225,000Mar 2014 N/A 832 2,001 $197,396,992 $468,679,230 $237,256 $210,000Mar 2013 3,046 867 2,191 $207,753,141 $505,597,689 $239,623 $212,000Mar 2012 3,271 723 1,711 $156,961,131 $363,294,181 $217,097 $189,000Mar 2011 4,470 776 1,684 $164,066,576 $366,657,348 $211,426 $180,000Mar 2010 4,773 723 1,759 $155,896,875 $372,454,547 $215,625 $189,900Mar 2009 5,075 566 1,483 $120,302,734 $306,473,138 $212,549 $185,000Mar 2008 5,849 722 1,812 $170,755,166 $422,298,200 $236,503 $202,000Mar 2007 5,659 891 2,233 $227,034,819 $567,862,409 $254,809 $208,000Mar 2006 4,486 1,037 2,463 $260,486,104 $616,821,288 $251,192 $212,000Mar 2005 3,843 1,004 2,433 $230,337,680 $562,880,702 $229,420 $192,850Mar 2004 3,998 883 2,117 $194,413,642 $458,073,272 $220,174 $183,000Mar 2003 4,325 725 1,896 $151,611,275 $401,313,978 $209,119 $179,000Mar 2002 3,310 747 1,929 $155,954,925 $396,879,103 $208,775 $173,000Mar 2001 3,453 826 1,933 $157,908,898 $368,806,388 $191,173 $164,995Mar 2000 2,975 733 1,779 $132,456,765 $322,064,256 $180,705 $135,000Disclaimer: This representation is based in whole or in part on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) or its PPMLS for the period from March 2000 through March2016. Content is deemed reliable; however, neither the RSC nor the PPMLS nor PPAR nor Jay Gupta guarantees or is in any way responsible for its accuracy. Data maintained by RSC does not
reflect all real estate activity in the market. © Copyright Jay Gupta. All rights reserved. Unauthorized reproduction is strictly prohibited.
Historical Monthly Sales Data Comparison – For Single Family/Patio Homes For the Month of March – From 2000 to 2016
Compiled and analyzed by:Jay Gupta, BME MA MRE CRS CMRS SRES CDPE2008 PPAR Chairman and 2010 REALTOR® of the Year
CAR Research Committee Southeast District SpokespersonWith over 2-Billion in personal and managed sales
Berkshire Hathaway Home Services Rocky Mountain, REALTORS®
For comments & questions, please contact: [email protected]
Lowest Inventory Level Since 2000 Historically Record March
Mo / Year ActiveListings
MonthlyHome Sales
YTDHome Sales
MonthlySales
Volume
YTDSales
Volume
MonthlyAverage
Price
MonthlyMedianPrice
Mar 2016 1,941 1,172 2,891 $314,107,720 $773,198,332 $268,010 $239,500Mar 2015 2,538 1,009 2,362 $261,686,168 $605,895,371 $259,352 $225,000Mar 2014 N/A 832 2,001 $197,396,992 $468,679,230 $237,256 $210,000Mar 2013 3,046 867 2,191 $207,753,141 $505,597,689 $239,623 $212,000Mar 2012 3,271 723 1,711 $156,961,131 $363,294,181 $217,097 $189,000Mar 2011 4,470 776 1,684 $164,066,576 $366,657,348 $211,426 $180,000Mar 2010 4,773 723 1,759 $155,896,875 $372,454,547 $215,625 $189,900Mar 2009 5,075 566 1,483 $120,302,734 $306,473,138 $212,549 $185,000Mar 2008 5,849 722 1,812 $170,755,166 $422,298,200 $236,503 $202,000Mar 2007 5,659 891 2,233 $227,034,819 $567,862,409 $254,809 $208,000Mar 2006 4,486 1,037 2,463 $260,486,104 $616,821,288 $251,192 $212,000Mar 2005 3,843 1,004 2,433 $230,337,680 $562,880,702 $229,420 $192,850Mar 2004 3,998 883 2,117 $194,413,642 $458,073,272 $220,174 $183,000Mar 2003 4,325 725 1,896 $151,611,275 $401,313,978 $209,119 $179,000Mar 2002 3,310 747 1,929 $155,954,925 $396,879,103 $208,775 $173,000Mar 2001 3,453 826 1,933 $157,908,898 $368,806,388 $191,173 $164,995Mar 2000 2,975 733 1,779 $132,456,765 $322,064,256 $180,705 $135,000Disclaimer: This representation is based in whole or in part on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) or its PPMLS for the period from March 2000 through March2016. Content is deemed reliable; however, neither the RSC nor the PPMLS nor PPAR nor Jay Gupta guarantees or is in any way responsible for its accuracy. Data maintained by RSC does not
reflect all real estate activity in the market. © Copyright Jay Gupta. All rights reserved. Unauthorized reproduction is strictly prohibited.
Disclaimer: This representation is based in whole or in part on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) or its PPMLS for the period from March 2000 through March 2016. Content is deemed reliable; however, neither the RSC nor the PPMLS nor PPAR nor Jay Gupta guarantees or is in any way responsible for its accuracy. Data maintained by RSC does not refl ect all real estate activity in the market. © Copyright Jay Gupta. All rights reserved. Unauthorized reproduction is strictly prohibited.
Observations and Remarks:In January 2013 Case-Shiller index chair-
man David Blitzer said, “� e hazard now is that people think normal is 2006, but we aren’t going back there for a long time, maybe never.” Amazingly within 3 years from his comments, the real estate market exploded leaving 2006 sales levels in the dust. A comparison of March 2016 sales data with March 2006 shows:
• Year To Date Number of Sales – are up by 17%
• Year To Date Sales Volume – is up by 25%
• Average Price – is up by 7%• Median Price – is up by 13%• Months’ Supply – March 2016: 1.7
months compared with March 2006: 4.3 months
• Active Listings – are down by 57%• Note: Even in a hot real estate market
with low inventory not every property listed For Sale sells; buyers generally buy realistically priced properties o� er-ing competitive values.
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Housing Stats continued from 10
