Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
Data is fascinating. What you see here is 30 years of active number of listings in the Pikes Peak region alongside the average payment for a home based on the prevailing interest rate and the closed price of a home for that given month. What’s the point and takeaway from this data? In early 2022, […]
When evaluating the market(s), make sure you’re qualifying what you’re reading and asking additional questions. E.g., the September 24 to September 25 average house price rose over $35K year over year ($521,451 to $556,998). To qualify: these are single family homes in Colorado Springs specifically. Is this the full story? Not quite. We should also […]
When we evaluate a market, when we hear the stats on a market, we often hear about the positive numbers. For example, if I share that in the last 30 days, the single family home market in El Paso County is selling at 3% above last year’s number of sales and selling for just under […]
In a word, it’s unaffordable for many people. What you see here is the average monthly payment over the last 3 decades. Note the massive jump in 2020. That was the massive injection of funds into the economy. This is a bipartisan monetary policy. What we see here is the same payment trend mapped alongside […]
Pricing your home matters. In the sixth week, homes have lost 4.27% of their list price in the Colorado Springs region. Who’s landing? When we look at the stats, remember we are only measuring who “landed”, who successfully sold. Nearly 49% of the market isn’t making it to the finish line right now. Seller’s concessions […]
Colorado Springs hits an 8 year high in inventory
Here’s a quick look at where we stand right now for the last 30 days in the PPAR region. The big takeaways right now are:
We are closing for the month of March 2023 at an average of 501K with 46.86 days on the market. Homes are closing on the average at 3.1% below original list price. Sales are down 29.2% from this time last year and we have 1.53 months worth of homes on the market. Data extrapolated from […]
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.
The average home price in the Pikes Peak Association of Realtors® region is down 17.57% from the peak in May. This is based on a 14 day rolling average. Homes are currently closing down 6.33% from their original list price, as measured for the last 30 days. The absorption rate – the measure of homes […]