Home inventory levels have decreased by 18.4% for the month of February when compared to six months ago. There was also a very slight decrease in home inventory when comparing to the previous month of January We typically see a lower number of homes for sale during this time of year. Still, the inventory levels are much lower than we have seen in previous years, resulting in an improved real estate market in Colorado Springs.
In February 2012, single family Inventory in the Pikes Peak MLS was higher. Compared to this time last year, months of inventory for Colorado Springs is much lower (189 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 February, Single Family Home Inventory in the Pikes Peak MLS was sitting at 4.6 months (compared to 4.4 months in January). Looking at statistics over the past six months (all price ranges), we are at 4.5 months inventory.
The months of inventory has improved considerably in Colorado Springs. 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 February 2013