Home inventory increased by 10% for the month of June when compared to six months ago (January). Compared to the previous month of May, there was a slight increase in single family homes for sale.
In June 2010, single family Inventory in the Pikes Peak MLS was higher and there were 913 single family home sales compared to 872 sales in June 2011. Compared to this time last year, months of inventory for Colorado Springs is lower.
Looking at statistics for June, Single Family Home Inventory in the Pikes Peak MLS is sitting at 5.5 months (compared to 6 months in May). 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