Northwest, Colorado Springs, Zip Code 80907/80919, Real Estate Market Report for May 2013

There are currently 121 active listings, 52 pending sales, and 22 sales in the Northwest area of Academy School District 20 for the month of May. Northwest includes the popular District 20 neighborhoods of Peregrine and Rockrimmon. The pending ratio is lower than other D20 neighborhoods at 30%.  The pending ratio represents the supply and demand of the market. The higher the ratio, the greater the demand. A low ratio indicates more supply than demand.

The average sales price to list price ratio is a healthy 97.1%.  This too, is lower than other D20 neighborhoods.  Sellers in N/W are having to negotiate more on their price to sell their homes.

For the Northwest area of Colorado Springs, average sales price is $334,792 and the median sales price is $327,500, both up significantly over April.

Average days on market is at 101 days for Northwest with 5.5 months of inventory, the highest inventory in District 20.

The Northwest area of District 20 is a tougher market.  I've worked with six out of town buyers recently.  All choose homes in the newer sections of D20 such as Briargate and Northgate. It appears as though buyers are favoring newer homes with open floor plans over the more traditional homes in the Northwest areas of Colorado Springs. Bad news for sellers in this area of Colorado Springs.

For information about listing your Northwest home for sale, visit Selling Your Colorado Springs Home.

Compare demographics for Colorado Springs zip codes with other zip codes in Colorado Springs or the nation, visit the Colorado Springs Market Insider.

For information about listing your home for sale, visit Selling Your Colorado Springs Home.

For the complete report visit Real Estate Market Report for Peregrine, Rockrimmon, and Northwest.