Homes for sale were scarce in the Colorado Springs area last month, according to a new report by the Pikes Peak Association of Realtors. In December, just 530 homes were listed, the equivalent of less than a two-week supply, based on recent buying and selling trends. THE GAZETTE FILE […]

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Just 530 single-family and patio homes were listed for sale in December in the Springs area — the fewest over at least the last 25 years, according to the latest Pikes Peak Association of Realtors’ market trends report and Gazette records.

Last month’s miniscule number of homes was the equivalent of just under a two-week supply, based on the recent pace of sales and if no additional properties had come on the market, the association’s report shows. Homes in the report were listed by real estate agents, not individual sellers; most were in El Paso County.

With so few homes for sale, many frustrated buyers spend weeks and even months looking for properties.

When they find one whose size, amenities and location are appealing, they often engage in bidding wars with other buyers and must submit offers that are typically several thousand dollars above a seller’s asking price.

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