Home inventory decreased by 3.5% for the month of April 2011 when compared to six months ago (November 2010). Compared to the previous month of March, there was an increase in single family homes for sale.
In April 2010, single family Inventory in the Pikes Peak MLS was slightly higher and there were 792 single family home sales compared to 748 sales in April 2011.
Looking at statistics for April, Single Family Home Inventory in the Pikes Peak MLS is sitting at 6.1 months (compared to 5.8 months in March). 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