Home inventory levels have decreased by 21% for the month of April when compared to six months ago. Inventory levels continue to remain low in Colorado Springs compared to previous years.
In April 2015, there were 614 more homes for sale and 144 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 April, Single Family Home Inventory in the Pikes Peak MLS was sitting at 1.6 months (compared to 1.6 months in March as well). Looking at statistics over the past six months (all price ranges), we are at approximately 2 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.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed
Also Read: El Paso County Home Sales for April 2016