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LISTING AND SALES SUMMARY

by Brian Maecker

LISTING AND SALES SUMMARY

December 2017

 

All Homes

 

 

 

 

Existing Homes

 

MONTHLY SUMMARY

 

Nov 2017

Dec 2017

% +/-

Dec 2016

% +/-

Nov 2017

Dec 2017

% +/-

Dec 2016

% +/-

SINGLE FAMILY/PATIO HOMES:

New Listings

1,080

846

(21.7)

763

10.9

918

710

(22.7)

618

14.9

Sales

1,255

1,206

(3.9)

1,236

(2.4)

1,125

1,074

(4.5)

1,119

(4.0)

Avg Sales Price

$317,368

$323,149

1.8

$287,294

12.5

$307,049

$313,276

2.0

$278,850

12.3

Median Sales Price

$280,000

$285,000

1.8

$255,000

11.8

$272,500

$274,950

0.9

$249,000

10.4

Total Active

1,643

1,350

(17.8)

1,536

(12.1)

1,164

874

(24.9)

1,084

(19.4)

Months Supply

1.3

1.1

4.6

1.2

5.0

1.0

0.8

5.5

1.0

4.8

CONDO/TOWNHOMES:

 

 

 

 

 

 

 

 

 

 

New Listings

162

131

(19.1)

104

26.0

145

107

(26.2)

91

17.6

Sales

167

160

(4.2)

159

0.6

150

134

(10.7)

134

0.0

Avg Sale Price

$205,174

$195,356

(4.8)

$190,543

2.5

$196,487

$184,202

(6.3)

$175,913

4.7

Median Sale Price

$187,000

$191,200

2.2

$177,000

8.0

$177,444

$180,000

1.4

$165,500

8.8

Total Active

100

80

(20.0)

140

(42.9)

72

55

(23.6)

104

(47.1)

Months Supply

0.6

0.5

4.8

0.9

(68.1)

0.5

0.4

2.2

0.8

 

CUMULATIVE YTD SUMMARY

 

 

Jan-Dec 2017

 

Jan-Dec 2016

% +/-

 

Jan-Dec 2017

 

Jan-Dec 2016

% +/-

SINGLE FAMILY/PATIO HOMES:

New Listings

 

18,485

 

17,971

2.9

 

16,569

 

16,137

2.7

Sales

 

16,337

 

15,318

6.7

 

14,675

 

13,940

5.3

Avg Sales Price

 

$314,589

 

$286,152

9.9

 

$305,945

 

$278,848

9.7

Volume

$5,139,440,493

$4,383,276,336

17.3

$4,489,742,875

$3,887,141,120

15.5

CONDO/TOWNHOMES:

 

 

 

 

 

 

 

 

 

 

New Listings

 

2,542

 

2,429

4.7

 

2,268

 

2,199

3.1

Sales

 

2,438

 

2,192

11.2

 

2,164

 

1,992

8.6

Avg Sales Price

 

$198,180

 

$181,734

9.0

 

$190,503

 

$174,500

9.2

Volume

$483,162,840

$398,360,928

21.3

$412,248,492

$347,604,000

18.6

 

©Copyright 2018 Pikes Peak REALTOR® Services Corp.(RSC) All rights reserved.  Unauthorized reproduction is prohibited.

 

RSC authorizes RSC REALTOR® Participants and Sub-Participants to reproduce and display a single copy of this Listing and Sales Summary on his/her own real estate website and/or electronic or print communications. Any such display must include the following notice with the correct range of dates:

 

©Copyright 2018 Pikes Peak REALTOR® Services Corp. All rights reserved. Unauthorized reproduction is prohibited. Based on information from the Pikes Peak REALTOR® Services Corp. (“RSC”) for the period

December 2016 through December 2017. RSC information may not reflect all real estate activity in the market and is

provided as is without warranty or guaranty.

Real Estate Jargon

by Brian Maecker

I thought I would start the year off with some Real Estate Jargon and Meanings. This might take a while, but perhaps it will help more people understand the language of Real Estate. As I go through these weeks, feel free to ask questions.

A’s & B’s –

Acre 43,560 square feet of land.

Amortization the gradual repayment of a mortgage loan by installments.

Appraisal a written analysis of the estimated value of a property prepared by a qualified appraiser.

Appraised value an opinion of a property's fair market value, based on an appraiser's knowledge, experience, and analysis of the property.

Appraiser a qualified individual who uses his or her experience and knowledge to prepare the appraisal estimate.

ARM, Adjustable Rate Mortgage a loan subject to changes in interest rates as market conditions change.

Assessed value the valuation placed on property by a public tax assessor for purposes of taxation.

Assumable mortgage a mortgage that can be taken over by the buyer when a home is sold.

Bridge loan, Swing loan a form of second trust that is collateralized by the borrower's present home (which is usually for sale) in a manner that allows the proceeds to be used for closing on a new house before the present home is sold.

 More to come next week.

Brian

 

Happy New Year!

by Brian Maecker

           Its 2018, WOW!! I hope your 2017 was a good year. So what’s in store for 2018? Real Estate wise! I expect more of the sale.

           In 2017 we saw record home sales and prices increases in all areas of the market. In 2018 I expect prices to keep increasing, but the number of sales to level off or even decrease. I say that because inventory is tight and I don’t see any relief from that. I think there are lots of folks who want to downsize, but they can’t find that 1 Level ranch home. Or if they do find it, it’s much higher than the equity in their home.

           I expect interest rates to rise ½ -1% this year. Rates have been around 4% or below for years now. It has to go up sometime. I remember in 1986, they were 14%. I think rates need to go up to curb inflation.

           In 2018, I expect more people moving here from Denver. Our prices are at least 10-15% lower if not more in our area. Along that same line, more people will downsize to Pueblo. It’s affordable, it’s warmer, they have lots of 1 Level homes and its lower altitude.

           I expect even more realtors! In 2013 at the low point of the market there were 1600 realtors serving El Paso County. Most of us were the grizzled veterans working through the market. Today there are over 4000 realtors serving El Paso County. Many are doing a one and done. They think it’s easy and frankly these rookies are horrible for the market. They don’t know how to advise or find information. They simply are looking for the quick buck. Don’t be fooled by discounters and amateurs. This market requires experience and the know how! Trust experience. We’ve been here for 31 years through thick and thin. I know how to navigate this environment.

           I hope you have a great 2018. If you need sound experienced Real Estate help, Call us.

Thanks

Brian 

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The Brian Maecker Team
RE/MAX Advantage
5590 N. Academy Blvd.
Colorado Springs CO 80918
719-593-2963
Toll Free: 888-593-2963
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