Home inventory levels have decreased by 13.3% for the month of March when compared to six months ago. There was also a very slight increase in home inventory when comparing to the previous month of February. The inventory levels are much lower than we have seen in previous years, resulting in an improved real estate market in Colorado Springs and the market is definitely picking up!
In March 2012, there were 225 additional homes for sale. Due to low inventory, especially in the lower price ranges, the market continues to be very competitive among home buyers.
For March, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.5 months (compared to 4.6 months in February). Looking at statistics over the past six months (all price ranges), we are at 4.2 months inventory.
The months of inventory has improved considerably in Colorado Springs. There is a balanced market in Colorado Springs when inventory sits at 6 months. Due to low home inventory, the market continues to look good for sellers in Colorado Springs.
**Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed
Also Read: El Paso County Home Sales for March 2013