Home inventory has decreased by 18.3% for the month of January 2010 when compared to six months ago (August 2009). Compared to the previous month of December, there was a 4.3% increase in single family homes for sale. With the exception of January, Single Family Home Inventory has been steadily dropping since July 2009. We will soon be entering the busier season for real estate in Colorado Springs and can expect inventory levels to increase again next month.
Single Family Home Inventory in the Pikes Peak MLS was nearly 16.3% higher in January 2009 and we had 51 fewer single family home sales.
Looking at stats for January 2010, Single Family Home inventory in the Pikes Peak MLS is sitting at 8.9 months (compared to 6.3 months in December). This is a significant increase; Single Family Home inventory hasn’t been above 6 months since May 2009 (with the exception of last month). 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
Patio homes are included in these stats