Looking over the last six months, home inventory decreased by 24.3% for the month of December 2008 when compared to July 2008. Single family home inventory in the Pikes Peak MLS has also decreased by 8% when comparing December 2007 to December 2008.
Looking at stats for December 2008, Single Family Home inventory in the Pikes Peak MLS is sitting at 10 months (compared to 11 months in November). Colorado Springs will reach a balanced market when inventory drops down to 6 months.
For the most current inventory in El Paso County (including all properties), please visit the Colorado Springs Market Information page on my website.
*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed