Home inventory has decreased by 23% for the month of December 2009 when compared to six months ago (July 2009). Compared to the previous month of November, there was a 8% decrease in single family homes for sale. Single Family Home Inventory has been steadily dropping over the past six months. It is good that we are seeing inventory levels declining; this is necessary if we want to see the real estate market in Colorado Springs improve.
Single Family Home Inventory in the Pikes Peak MLS was nearly 20% higher in December 2008 and we had 128 fewer single family home sales!
Looking at stats for December 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 6.3 months (compared to 5.4 months in November). This is the first month Single Family Home inventory has been above 6 months since May 2009. There is a balanced market in Colorado Springs when inventory sits at 6 months; the market is improving for sellers.
*Information gathered from the Pikes Peak MLS is deemed reliable but not guaranteed
Patio homes are included in these stats