Home inventory levels have increased by 17% for the month of September when compared to six months ago. Even with the increase, home inventory levels continue to remain low in Colorado Springs compared to previous years.
When compared to September 2016, there were 772 more homes for sale and 190 fewer home sales in September 2015. 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 1.7 months (compared to 1.8 months in August). Looking at statistics over the past six months (all price ranges), we are at 1.7 months of 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.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed
Also Read: El Paso County Home Sales for September 2016