Home inventory increased by 9.9% for the month of May 2011 when compared to six months ago (December 2010). Compared to the previous month of April, there was an increase in single family homes for sale.
In May 2010, single family Inventory in the Pikes Peak MLS was higher and there were 888 single family home sales compared to 799 sales in May 2011. Compared to this time last year, months of inventory for Colorado Springs is lower.
Looking at statistics for May, Single Family Home Inventory in the Pikes Peak MLS is sitting at 6 months (compared to 6.1 months in April). The months of inventory has improved considerably in Colorado Springs. As long as the inventory levels remain at these levels and sales increase, the market will continue to improve. There is a balanced market in Colorado Springs when inventory sits at 6 months.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed