Home inventory decreased by 26% for the month of January 2011 when compared to six months ago (August 2010). Compared to the previous month of December, there was a very slight decrease in single family homes for sale.
Single family Inventory in the Pikes Peak MLS was 5% lower in January 2010 and there were 4 additional single family home sales.
Looking at statistics for January, Single Family Home Inventory in the Pikes Peak MLS is sitting at 9.4 months (compared to 6.9 months in December). Months of inventory took a jump compared to the previous month of December but as home sales increase in the next few months, months of inventory should return back to more normal levels. There is a balanced market in Colorado Springs when inventory sits at 6 months.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed