4Q2022+ Types of Sales
Here is the distribution of types of sales from the 4th quarter of 2022 through this morning. These are pretty consistent with our market norms.
Feb 2023 sales numbers close out down 29.6% YOY
February 2023 closed down 29.6% from the previous year by number of sales. That is the second largest drop February to February as a percentage since at least 1996, eclipsed only by 2007-2008 which saw a 31.7% drop. Sales price was down app. $8,500 over last February. February 2011-2012 was the last time the average […]
17 years of home sales
Take a look at this chart. It’s seventeen years of homes sales in the region. There are a lot of takeaways here, from the seasonality of the number of sales to the impact of Coronavirus and then the interest rate adjustments. What else do you see?
What is the best month to sell a home in the COS region?
April and May according to the 10 year average closed to list price ratios. What you see below is the average of ten years of closed to original list price ratios by month. As you can see, April and May are the highest of the months at 100.1%. November, December and January are the lowest […]
Are houses selling above or below list price?
This question hit my inbox this morning. The answer is “mostly below on the average right now”. Here is a breakdown of the top 20 selling subareas in the region (as measured by their number of sales). Here’s how to read this: Banning Lewis Ranch is the number one selling subarea YTD and is closing […]
Inventory in the top 20 Subareas & Banning Lewis Ranch
Bottom line: inventory in these subareas is lower than I expected to see, with the exception of Banning Lewis Ranch. The low inventory across the board seems to be helping holding pricing up.
Feb 2023 Closed Prices Down 6.18% from List
Here’s a quick rundown on the month to date. We are tracking 247 sales, down 44.12% from last year this time (through the 12th of Feb). We are closing at 6.18% down from the original list price on those sales. With a closed to current list price percentage down 1.82%, that means homes are dropping […]
February 2023 real estate in Colorado Springs
Let’s see where we stand for the last 30 days as we close in on the end of the first week of February. This snapshot of my custom analytics dashboard is PACKED full of information but here are a couple highlights: The average closed price is $509K w/50 days on the market. We are closing […]
January 2023 Sales Down 35% YOY
January 2023 sales numbers closed out down 35% vs. January 2022. This is about 5 to 8% better than I expected. It will be interesting to watch February to see if the upward trend (relative to the down months of last quarter) holds.
Type of Sales Since 10/1/22
Curious about our market and the types of sales therein? Checkout the map plot that shows the ‘big 4’ purchase types across the region since Oct 1, 2022.