Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
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 […]
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 […]
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.