Exploring the Real Estate Market and Schools in Monument, CO

In July 2023, homes in Monument, CO were selling at the asking price, indicating a balanced market with equal supply and demand. The average days on market for homes in Monument, CO was 31 days, slightly lower than last year. Monument, CO boasts good and higher-rated public schools, according to GreatSchools. The area offers a variety of amenities, including grocery stores, cafes, and restaurants, with rental options ranging from $1.4K to $4.2K per month. Nearby areas like Castle Rock, Parker, and Elizabeth also have varying median listing home prices. Let’s delve into the real estate market and top schools in Monument, CO.

Overview of the Real Estate Market

Homes in Monument, CO sold for approximately the asking price on average in July 2023. This suggests that the real estate market in Monument is quite balanced, with supply and demand being relatively equal. It is worth noting that this data reflects the impact of COVID-19 on the market, as the pandemic has influenced housing affordability and buyer behavior. Despite these challenges, Monument has remained resilient, with homes selling after an average of 31 days on the market. While the median days on market have increased since last month, they have slightly decreased compared to the previous year. This data indicates that Monument’s real estate market has been able to adapt and recover from the initial shocks of the pandemic, offering stability and potential opportunities for buyers and sellers alike.

Sale-to-List Price Ratio

The average sale-to-list price ratio in Monument, CO in July 2023 was approximately the asking price. This indicates that homes in Monument were generally selling close to their listed price. Several factors influence the sale-to-list price ratio in the area. One such factor is the balanced market conditions, where the supply and demand of homes are about the same. Additionally, the average days on market for homes in Monument is 31 days, suggesting a relatively quick turnover. Another factor that may impact the sale-to-list price ratio is the presence of homes with large lots. These properties may attract buyers looking for more space and privacy, potentially driving up their market value and influencing the overall price ratio. It is important for buyers and sellers to consider these factors when navigating the real estate market in Monument, CO.

Balanced Market Supply and Demand

Buyers and sellers in Monument, CO can expect a balanced market with similar supply and demand for residential properties. Despite the impact of COVID-19 on the real estate market, Monument has maintained a stable equilibrium between the number of homes available and the number of buyers. The effect of the pandemic has not significantly disrupted the overall balance. Additionally, the impact of school ratings on home prices in Monument is evident. The presence of good-rated public schools in the area has positively influenced home prices. Buyers recognize the value of living in a community with quality education options and are willing to pay a premium for homes located in areas with higher-rated schools. This connection between school ratings and home prices highlights the importance of education in the Monument real estate market.

Average Days on Market

Despite fluctuations, the average days on market in Monument, CO has remained relatively stable over the past year. Homes in this area typically sell after an average of 31 days on the market. This data suggests that the real estate market in Monument, CO is fairly active, with properties selling at a reasonable pace.

It is worth noting that school ratings can have an impact on home prices in Monument, CO. The presence of good schools in the area, as rated by GreatSchools, can contribute to higher demand for homes, potentially leading to higher prices. Families with children often prioritize access to quality education, and the reputation of local schools can be a deciding factor for prospective buyers. Therefore, it is important for homebuyers and sellers in Monument, CO to consider the influence of school ratings on the real estate market.

Trends in Days on Market

Homes in Monument, CO have experienced a slight increase in the median days on market compared to last month, indicating a shift in the pace of sales. According to recent data, the average days on market for homes in Monument is currently 31 days. While this is relatively low compared to some other areas, it is important to note the upward trend in days on market. This trend suggests that homes are taking slightly longer to sell, which may have an impact on housing prices in the area. When homes stay on the market for longer periods of time, it can create a more competitive market for sellers, potentially leading to price reductions or adjustments. Buyers may also have more negotiating power in this type of market. It will be interesting to monitor this trend and see how it continues to evolve in the coming months.

GreatSchools Rating for Monument, CO

The public schools in Monument, CO have received favorable ratings from GreatSchools based on a variety of indicators. Factors such as test scores, college readiness, and equity data are taken into consideration when determining the GreatSchools rating. This rating provides valuable information for families who are looking for high-quality education options in the area. Additionally, Monument, CO offers a range of rental options for those who prefer not to buy a home. Rental prices in Monument range from $1.4K to $4.2K per month, providing options for different budgets. When compared to nearby areas, Monument stands out with its higher median listing home price of $1.2M. This indicates that the real estate market in Monument may be more expensive than neighboring towns like Castle Rock and Parker, which have median listing home prices of $789.9K and $759.5K respectively.

Factors Considered in GreatSchools Rating

Factors influencing school ratings play a significant role in the real estate market of Monument, CO. The GreatSchools Rating, which is based on various school quality indicators, including test scores, college readiness, and equity data, helps potential homebuyers assess the quality of schools in the area. These ratings can have a direct impact on the desirability and value of homes.

Homebuyers with school-aged children often prioritize areas with highly rated schools, leading to increased demand and competition for homes in those areas. As a result, homes in neighborhoods with top-rated schools tend to have higher property values and may sell at a premium. Conversely, neighborhoods with lower-rated schools may experience decreased demand and lower property values.

Real estate agents and sellers frequently highlight the proximity and quality of nearby schools as a selling point, recognizing the impact that school ratings can have on buyers’ decisions. Therefore, it is crucial for both buyers and sellers to consider school ratings when navigating the real estate market in Monument, CO.

Amenities in Monument, CO

With dozens of grocery stores and hundreds of cafes and restaurants, residents in Monument, CO have a wide variety of amenities to choose from. In addition to these options, Monument also offers a range of rental options for those who prefer not to purchase a home. Rental prices in Monument range from $1.4K to $4.2K per month, providing flexibility for individuals or families looking for a place to live. Furthermore, for those seeking homes with large lots, Monument has options available. Whether it’s for gardening, outdoor activities, or simply enjoying the spaciousness, these homes provide ample space to suit various needs. Overall, Monument, CO offers a diverse array of amenities, including rental options and homes with large lots, catering to the preferences and lifestyles of its residents.

Median Listing Home Prices in Nearby Areas

Monument, CO’s nearby areas have varying median listing home prices, ranging from $789.9K in Castle Rock to $530K in Briargate. These price differences can be attributed to a variety of factors, including the impact of nearby amenities on home prices. When comparing the home prices in Monument, CO to nearby cities, it is evident that Monument tends to have higher median listing prices. For example, the median listing home price in Monument is $1.2M, significantly higher than the prices in Castle Rock and Briargate. This could be due to the presence of top-rated schools, a balanced real estate market, and a variety of amenities such as grocery stores, cafes, and restaurants. Potential homebuyers in Monument, CO should consider these factors when evaluating the market and making purchasing decisions.

Newest Listings in Monument, CO

The newest listings in Monument, CO offer a range of options for potential homebuyers. Exploring housing affordability in Monument is crucial for those looking to settle in this area. In terms of the rental market, prices for rentals in Monument, CO range from $1.4K to $4.2K per month, providing options for individuals with different budgets. This makes Monument an attractive option for both homebuyers and renters. The real estate market in Monument, CO is balanced, with the supply and demand of homes being about the same. With an average sale-to-list price ratio of homes being close to the asking price, it indicates a stable market. Overall, Monument, CO offers a variety of housing options, making it an appealing destination for individuals seeking affordable housing.