Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
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. […]
As we roll into May, let’s take a look at April 2024. Below you see the history of April(s) since 1996. Here’s how to read this: April 2024 saw a 6% gain over the average sale price of April 2023, which itself saw a 6% decline over the preceding year. This happened despite the number […]
TLDR; those who can buy a house are buying a house This is a snapshot from Odin, my real estate analytics dashboard. This is a look at the last 30 days in El Paso County for Single Family Homes. Here’s the takeaway for you from this: The average price of a SFH in El Paso […]
Are we in a seller’s market? A buyer’s market? Yes. On the surface, we are in a seller’s market. We have 2.02 months worth of Single Family Homes (SFHs) on the market in El Paso County (EPC). A balanced market is said to have 5 to 6 months inventory of homes. According to this measure, […]
It’s not April. There’s a meme running around the Internets indicating that April is the most difficult month to buy a home. That’s not accurate for our market. Okay, smartypants, you may be saying…what is? I’m glad you asked! It’s…March, then June, then April, then May. This is based on measuring the market seasonality for […]
As we roll into 2024, I wanted to get this graph out there. What you see here is 27 years of sales and active listings for Decembers for the Pikes Peak Region. I recently heard on a podcast that ‘inventory is an issue’ and that ‘demand exceeds supply’. On the macro perhaps, but I don’t […]
We are halfway into November 2023. Where does the market stand today? For Single Family Homes (SFH), we are at 38.6 average days on market, selling at an average of 4.94% below original list price. We are tracking at 34.21% below this time last year in number of sales. We are also looking at an […]
Thirty seven percent of these homes sold the last 30 days were built in the last 5 years.
Colorado Springs hits an 8 year high in inventory
In a previous post, I mentioned the ratio of withdrawn/expired homes to homes sold. This line of thought prompted me to ask, where are things selling? Where are the inactive homes? Here’s quick heatmap of the last 30 days of activity. Green is sold, red is withdrawn/expired. https://s3.us-east-2.amazonaws.com/www.robthompson.dev/heatmap.html More on this soon!