Home inventory levels have decreased by 38.5% for the month of December when compared to six months ago. We will see inventory levels start to rise soon as the spring weather arrives.
In December 2013, there were 624 more homes for sale and 193 fewer home sales. There continues to be competition among home buyers in the current real estate market especially in the lower price ranges.
For December, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.6 months (compared to 4 months in November). Looking at statistics over the past six months (all price ranges), we are at approximately 3 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 December 2014