Home inventory levels have increased by 3.8% for the month of September 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 September 2013, there were 239 more homes for sale and 197 fewer home sales! There continues to be competition among home buyers in the current real estate market especially in the lower price ranges.
For September, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.7 months (compared to 3.7 months also in August). Looking at statistics over the past six months (all price ranges), we are at approximately 3.7 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 September 2014