Home inventory levels have increased by 40.3% for the month of July when compared to six months ago. Inventory levels continue to remain low in Colorado Springs compared to previous years.
In July 2014, there were 817 more homes for sale and 168 fewer home sales. There continues to be competition among home buyers in the current real estate market especially in the lower price ranges due to the low home inventory in Colorado Springs.
For July, Single Family Home Inventory in the Pikes Peak MLS was sitting at 2.5 months (compared to 2.3 months in June). Looking at statistics over the past six months (all price ranges), we are at approximately 2.4 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 July 2015