Home inventory levels have increased by 24.3% for the month of May when compared to six months ago. There was also an increase in home inventory when comparing to the previous month of April. The inventory levels are still low, resulting in an improved real estate market in Colorado Springs.
In May 2012, there were only 40 additional homes for sale but there were fewer sales. Due to low inventory, especially in the lower price ranges, the market continues to be very competitive among home buyers.
For May, Single Family Home Inventory in the Pikes Peak MLS was sitting at 3.3 months (compared to 3.6 months in April). Looking at statistics over the past six months (all price ranges), we are at 3.8 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 May 2013