Home inventory levels have increased by 36.3% for the month of July when compared to six months ago. There was also an increase in home inventory when comparing to the previous month of June. The inventory levels are climbing again as are home sales in Colorado Springs.
In July 2012, there were 433 fewer homes for sale and 229 fewer home sales. Even with inventory levels increasing, the market continues to be very competitive among home buyers.
For July, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.4 months (compared to 3.5 months in June). Looking at statistics over the past six months (all price ranges), we are at 3.6 months inventory.
The months of inventory has improved considerably in Colorado Springs. There is a balanced market in Colorado Springs when inventory sits at 6 months. The real estate market continues to look good for sellers in Colorado Springs.
Also Read: El Paso County Home Sales for July 2013