Home inventory increased by 9.2% for the month of July when compared to six months ago (February). Compared to the previous month of June, there was a slight increase in single family homes for sale.
In July 2010, single family Inventory in the Pikes Peak MLS was higher and there were 713 single family home sales compared to 798 sales in July 2011. Compared to this time last year, months of inventory for Colorado Springs is lower.
Looking at statistics for July, Single Family Home Inventory in the Pikes Peak MLS is sitting at 5.9 months (compared to 5.5 months in June). The months of inventory has improved considerably in Colorado Springs. As long as the inventory levels remain at these levels and sales increase, the market will continue to improve. 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