Sales statistics for the Five Parks Neighborhood of Arvada, Colorado show a dramatic slowing of homes sold, and a corresponding increase in *absorption rate.
*Absorption rate is the amount of time that it would take for the current number of homes for sale to close, assuming no other homes came onto the market, based on the number of homes sold in past years.
2006 saw 44 sales ranging from $250,000 to $635,000. There were no foreclosures or short sales. Many of these homes were new construction.
2007 saw 44 sales ranging from $293,000 to $540,000. There was one short sale. A few of these sales were new construction.
2008 sales dropped to 28 homes, ranging from $232,200 to $535,000.
2009 is where we see the drastic change. Almost halfway through the year, only 5 homes have sold, and two of them were short sales. They ranged from $314,000 to $441,500.
There are 4 homes under contract, and one of them is a short sale. The highest list price amongst these homes is $449,000.
There are twenty homes for sale. Only one of them is disclosed as a short sale, but that's a LOT of competition. List prices range from $310,000 to $649,000.
The previous years' absorption rate was less than 6 months, but current activity shows an absorption rate of 11 months.
The Village of Five Parks is a very popular area, despite this slump in sales. If you'd like to see any of the homes for sale In The Village, please give me a call. Or, use the links below to search online home sales for yourself.
* * * * * * * * * * * * * * * * * * * * * * * *
Arvada is a historic town about midway between Denver and Boulder in Jefferson County, Colorado. There are many different neighborhood styles and homes prices, all served by well-loved schools. Call me to talk about the kind of neighborhood you dream of living in.
Read more about life in Arvada, Colorado.
Gardeners might enjoy my posts about gardening in Denver to Boulder’s front range.
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.
Copyright © 2009 Joetta Fort, The DiGiorgio Group