Home inventory levels have increased by 18.1% for the month of August when compared to six months ago. Compared to the previous month of July, there was a very slight increase in single family homes for sale.
In August 2011, single family Inventory in the Pikes Peak MLS was considerably higher. Compared to this time last year, months of inventory for Colorado Springs is much lower (621 fewer homes for sale). Due to low inventory, especially in the lower price ranges, the market continues to be very competitive among home buyers.
For August, Single Family Home Inventory in the Pikes Peak MLS was sitting at 4.3 months (compared to 3.9 months in July). Looking at statistics over the past six months, we are at 4.2 months inventory.
The months of inventory has improved considerably in Colorado Springs and although the number of homes for sale has been increasing each month, we are still at much lower levels than 2011. There is a balanced market in Colorado Springs when inventory sits at 6 months. Due to low home inventory, the 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 August 2012