School district 20, known as the Academy district is often mentioned when people are asked about good school districts. Just to be clear, El Paso County has many good school districts but district 20 seems to have an edge when it comes to being mentioned by people.
With the Colorado Springs market heating up let’s look at the last 3 months of 2015 and the most recent 3 months.
For this comparison I will focus on the most typically sold properties, those from $200,000 to $600,000.
For the last 3 months of 2015:
398 properties sold
Median total square feet was 3,147
Median list price $329,450
Median sold price $327,250
Sales price to list price 99.27%
Median sales price per square foot $107
Cumulative days on market 53
For the most recent 3 months:
453 properties sold
Median total square feet was 3,159
Median list price $329,900
Median sold price $325,000
Sales price to list price 100.00%
Median sales price per square foot $111
Cumulative days on market 18
Median list prices and sale prices have not changed much.
However,
Median sales price per square foot is up $4 per square foot from $107 to $111.
On a 3,000 square foot that is an increase of $12,000 just since last Fall.
Sales price to list price is 100.00%. Sellers are getting their asking price.
Cumulative days on market is the most dramatic change. From 53 days last Fall to just 18 days this Spring.
With inventory shrinking and sellers’ able to get reasonable asking prices, buyers are not shopping for weeks. If a good house comes on the market a buyer is wise to make a winning offer ASAP.
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