Home inventory levels have increased by 32% for the month of June when compared to six months ago. There was also an increase in home inventory when comparing to the previous month of May. The inventory levels are still low, resulting in an improved real estate market in Colorado Springs.
In June 2012, there were only 164 fewer homes for sale and there were 258 fewer sales. Due to low inventory, especially in the lower price ranges, the market continues to be very competitive among home buyers.
For June, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.5 months (compared to 3.3 months in May). Looking at statistics over the past six months (all price ranges), we are at 3.7 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. Due to low home inventory, the market continues to look good for sellers in Colorado Springs.
Also Read: El Paso County Home Sales for June 2013