Home inventory levels have decreased by 4.9% for the month of November when compared to six months ago. There was also a decrease in home inventory when comparing to the previous month of October. The inventory levels continue to dip as we are now in the slower season of real estate for Colorado Springs.
In November 2012, there were 357 fewer homes for sale and 32 additional home sales. Inventory levels continue to remain fairly stable and the market continues to be very competitive among home buyers in the lower price ranges.
For November, Single Family Home Inventory in the Pikes Peak MLS was sitting at 5.2 months (compared to 4.2 months in October). Looking at statistics over the past six months (all price ranges), we are at 4.1 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 November 2013