Information on Colorado Springs and surrounding areas to include Monument, Palmer Lake, Black Forest,Fountain, Falcon.
â€śWoodmoorâ€ť has remained amazingly consistent over the past 12 months. It should come as no surprise that â€śWoodmoorâ€ť is a cyclical market. As you can see from the chart below the number of sales really spikes as we head into the spring market and tapers off once school starts up. So, when we look at the number of currently active listings (40) in relation to the normal Spring activity the market horizon actually looks good. Having said that, the homes that are selling are well priced, well staged and aggressively marketed.
The Average sales price $353,500 is down 5.18% from January of last year, not great news but considering the state of the national market, we are lucky. The listing discount from January of 2011 was 5.37%, this is about 2.5 % higher then we usually see.
The most encouraging statistic is the Months of inventory; there is a 5.65 months supply of homes on the market. Industry standard for a â€śbalancedâ€ť market is 6-Months so officially we are in a sellers market? Here in the trenches, it certainly doesnâ€™t feel that way. I think whatâ€™s really happening is that a lot of listings that would normally be on the market are being leased. Sellers werenâ€™t willing to take the hit, so they found a renter (easy these days, thanks to short sales and foreclosures) and decided to wait out the market. We arenâ€™t really going to know what the true state of the market is until the end of the second quarter.
For the time being, â€śWoodmoorâ€ť is holding steady and unless we see a big influx of new listings in the next 60 to 90 days it looks to be a good Summer for home Sellers.
|Number of Sales||4|
|Average List Price||$391,578|
|Median List Price||$392,450|
|Average Sales Price||$353,500|
|The Median Sales Price was||$369,000|
|Average Days on Market is||140|
|Average Days on Market Active Listings||105|
|Months of inventory||5.65|
With more than 30 years of experience in real estate sales and finance Jennifer is an invaluable asset to our team. Jennifer oversees our daily operations reviewing all contracts, counseling buyers & sellers, negotiating contracts and managing our office. As a former violinist & music teacher she conducts the Vivace Strings Orchestra with the Colorado Springs Youth Symphony.
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