Home inventory levels have increased by 10% for the month of September when compared to six months ago. Compared to the previous month of August, there has been a slight decrease in single family homes for sale. This is the first dip we have seen in inventory this year. Since January, inventory levels have been slowly increasing each month but have still remained below inventory levels of the previous year.
In September 2011, single family Inventory in the Pikes Peak MLS was considerably higher. Compared to this time last year, months of inventory for Colorado Springs is much lower (474 fewer homes for sale). Due to low inventory, especially in the lower price ranges, the market continues to be very competitive among home buyers.
For September, Single Family Home Inventory in the Pikes Peak MLS was sitting at 4.8 months (compared to 4.3 months in August). Looking at statistics over the past six months, we are at 4.2 months inventory.
The months of inventory has improved considerably in Colorado Springs and we are still at much lower levels than 2011. 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 September 2012