Home inventory levels have decreased by 24.1% for the month of January when compared to six months ago. There was a ever so slight increase in home inventory when comparing to the previous month of December. We will see inventory levels start to rise as we exit the slow season of real estate for Colorado Springs.
In January 2013, there were 298 fewer homes for sale and 64 additional home sales. Inventory levels continue to remain fairly stable and the market continues to be very competitive among home buyers in the lower price ranges.
For January, Single Family Home Inventory in the Pikes Peak MLS was sitting at 5.4 months (compared to 4.7 months in December). Looking at statistics over the past six months (all price ranges), we are at 4.6 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 January 2014