Home inventory levels have slightly increased by 0.3% for the month of April when compared to six months ago. We will see inventory levels rise since we are in the busy season of real estate for Colorado Springs.
In April 2013, there were 314 fewer homes for sale and 10 additional home sales. There continues to be competition among home buyers in the current real estate market especially in the lower price ranges.
For April, Single Family Home Inventory in the Pikes Peak MLS was sitting at 4 months (compared to 4.3 months in March). Looking at statistics over the past six months (all price ranges), we are at approximately 4.8 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 April 2014