Home inventory levels have increased by 39.6% for the month of August when compared to six months ago. There was also an increase in home inventory when comparing to the previous month of July. The inventory levels are climbing as are home sales in Colorado Springs.
In August 2012, there were 388 fewer homes for sale and 207 fewer home sales. Even with inventory levels increasing, the market continues to be very competitive among home buyers.
For August, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.8 months (compared to 3.4 months in July). Looking at statistics over the past six months (all price ranges), we are at 3.5 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 August 2013