Home inventory levels have increased by 19.3% for the month of September when compared to six months ago. Inventory levels continue to remain low in Colorado Springs compared to previous years.
In September 2014, there were 616 more homes for sale and 165 fewer home sales. There continues to be competition among home buyers in the current real estate market especially in the lower price ranges due to the low home inventory in Colorado Springs.
For September, Single Family Home Inventory in the Pikes Peak MLS was sitting at 2.7 months (compared to 2.4 months in August). Looking at statistics over the past six months (all price ranges), we are at approximately 2.4 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 2015