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Absorption rate is an estimate of how long it would take all the houses currently on the market to sell, if no new ones were added, based on how many sold in recent months. It’s an artificial number, of course, but a good indicator of market trends. I think it's one of the most useful statistics we can be aware of.
I believe absorption rate is more valid than ‘days on market’, because DOM is quite skewed by short sales, which stay on the market considerably longer.
Westminster is a larger city between Denver and Boulder, so lots more to choose from when it comes to homes for sale. Things are a bit slow right now, bet we usually have a little fall pick-up when the weather cools a bit.
The recent home buyer tax credits did heat up the entry level market for first-time home buyers, but didn't seem to have a lot of impact on people selling a home and buying another. Now that those have expired, some people are forecasting doom and gloom for the real estate market.
However, the local economy is doing pretty well, with new jobs moving into the area. So although I don't expect a quick recovery, I do see an improving market down the line.



* * * * * * * * * * * * * * * * * * * * * * * * I write posts on real estate issues and local events in the Denver metro area, especially those *communities between Denver and Boulder, as a public service. My hope is to give people an idea of the 'flavor' of our community, in case they're new or moving to the Denver area. I am a residential real estate agent, happily helping folks buy a house or sell a house in the beautiful and friendly *suburbs northwest of Denver. *Arvada, Broomfield, Westminster; also Thornton, Golden, Wheat Ridge, Northglen, Lakewood Read more about Olde Town Arvada. To subscribe to my blog, click 'RSS' (look to the right of this page, scroll down below 'Archives', and you'll see RSS in the gold box). Then click 'Subscribe to this feed' and 'Subscribe'.
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Seriously, as a real estate professional, I must know my statistics. Below are the Denver MLS stats. I would state for the records our market is down from the previous month, 5-7 %. I would also like to make a prediction. Once our administration reviews the decline, they will enact another Tax Incentive program. Look for the new program in September or October. Why September or October? I predict September or October because of what happens in November, The elections!!! Remember you read it here FIRST !!!
SINGLE FAMILY ---JUNE 2010 / MAY 10/ MAY 09
% CHANGE
|
Active |
22,689 |
5.86 |
8.80 |
|
Pending |
551 |
-5.49 |
- |
|
Under Contract |
3,885 |
0.05 |
-31.41 |
|
Sold |
4,046 |
-7.31 |
-3.34 |
|
Avg DOM |
82 |
9.62 |
-17.93 |
|
Avg Sold Price |
$273k |
10.23 |
5.83 |
|
Residential |
|||
|
Active |
17,337 |
6.15 |
9.80 |
|
Pending |
447 |
-9.15 |
- |
|
Under Contract |
3,162 |
0.73 |
-29.23 |
|
Sold |
3,227 |
-5.53 |
-3.03 |
|
Avg DOM |
81 |
8.00 |
-19.80 |
|
Avg Sold Price |
$299k |
9.55 |
5.67 |
|
Condominium |
|||
|
Active |
5,352 |
4.94 |
5.71 |
|
Pending |
104 |
14.29 |
- |
|
Under Contract |
723 |
-2.82 |
-39.55 |
|
Sold |
819 |
-13.70 |
-4.55 |
|
Avg DOM |
87 |
10.13 |
-10.31 |
|
Avg Sold Price |
$171,k |
8.91 |
5.97 |
Gary DiGiorgio
The DiGiorgio Group
9035 Wadsworth pkwy 2000
Westminster.Co 80021
Direct 303 898 4279
Office 303 422 5200 fx 303 467 0211
Serving and selling Denver for over 11,000 days
ARVADA***GOLDEN***THORNTON***WESTMINSTER
I REALLY APPRECIATE YOUR REFERRALS
Gary D... For Denver
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