Home inventory decreased by 8.4% for the month of September when compared to six months ago (April). Compared to the previous month of August, there was a decrease in single family homes for sale.
In September 2010, single family Inventory in the Pikes Peak MLS was higher and there were 603 single family home sales compared to 672 sales in September 2011. Compared to this time last year, months of inventory for Colorado Springs is lower.
For September, Single Family Home Inventory in the Pikes Peak MLS is sitting at 6.2 months (compared to 5.4 months in August). Looking at statistics over the past six months, we are at 5.8 months inventory.
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
Also Read: El Paso County Home Sales for September 2011