Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
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 […]
It was a matter of time given market conditions before the data showed a trend we’ve been feeling here in Colorado Springs. Check this out. For the month to date November 2024, the Closed to Original List Price Ratio – the measure for what homes are closing at relative to their original list prices – […]
In the real estate market, many homeowners are looking for ways to increase their property’s value, and solar energy is often marketed as a solution. In Colorado Springs, where the sun is abundant, installing solar panels seems like a natural choice for those looking to reduce energy bills and promote sustainable living. But does going […]
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 […]
As of this year, Gen Z (those born between 1997 and 2012) has officially surpassed the Baby Boomers (born 1946 to 1964) in terms of workforce participation, marking a significant demographic shift in the labor market. While this generational change represents a new era for many industries, the question arises: will Gen Z “save” the […]
How much does home pricing matter in the Colorado Springs region right now? A lot. Pricing your home too high for the market or the condition can cost you a lot. An analysis of the last 90 days in our market showed the following stats: There were 909 homes sold in 0-7 days for 99.8% […]
When we quote statistics in the real estate industry, we most usually quote the metrics that reflect the successful sales. This is the way most are trained. However, in doing this type of analysis, it’s important to consider survivorship bias. What is this bias? It’s the tendency to consider only the successful set of data […]
How does one measure equity gain? A very common measure is the average or median sale price of a home over a period of time. Here are the last 3 years average and median prices in the area: Evaluating this chart we could read that the average closed price over the last several years has […]
What’s the state of inventory in El Paso County (EPC), Colorado, for Single Family Homes (SFHs)? As we sit here on 2 July 2024, we have app 2,021 active SFHs in EPC. If we look at total units by month in EPC since Oct 2015, here’s how that looks. We are sitting at 2,542 units.
Good morning! As we roll into June 2024, let’s take a quick look at the market for the Colorado Springs region. We leave May ’24 with a median price of $465K, down $5K from April 2024 but up $10K from May ’23. Our average price is $532K, down $5K from April 2024 but up app. […]