Home inventory levels have increased by 22.2% for the month of July when compared to six months ago. We will see inventory levels start to dip as we exit the busy season of real estate for Colorado Springs.
In July 2013, there were 89 fewer homes for sale and 3 additional home sales. There continues to be competition among home buyers in the current real estate market especially in the lower price ranges.
For July, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.5 months (compared to 3.5 months in June). Looking at statistics over the past six months (all price ranges), we are at approximately 3.9 months inventory.
The months of home inventory continues to be favorable 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 2014