Home inventory has decreased by 16% for the month of November 2009 when compared to six months ago (June 2009). Compared to the previous month of October, there was a 3% decrease in single family homes for sale. It is good that we are seeing inventory levels steadily dropping; 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 22% higher in November 2008 and we had 295 fewer single family home sales!
Looking at stats for November 2009, Single Family Home inventory in the Pikes Peak MLS is sitting at 5.4 months (compared to 5.8 months in October). Single family inventory has remained at 6 months or lower 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