Douglas County West - (Includes Castle Rock, Larkspur, Sedalia, Palmer Lake, and Part of Littleton)
The absorption rate spiked to 42.9 weeks in April 2007 this is primarily due to a very low number of solds in March. We will see a big rebound in absorption rate for next month.
| Apr-06 | Apr-07 | % Change | |
| # of sales closed - Month | 171 | 182 | 6.0% |
| # of sales Closed - YTD | 576 | 557 | -3.4% |
| Avg Days on Market | 117 | 122 | 4.1% |
| # of Active Listings | 1,185 | 1,357 | 12.7% |
| # of NEW Listings | 504 | 559 | 9.8% |
| Absorbtion Rate (in Weeks) | 25.7 | 42.9 | 40.2% |
| Average Price (Sold) | 440,290 | 523,111 | 15.8% |
Absorption Rate Definition - the rate at which a market can absorb additional units of supply without causing market saturation and severe price distortions. For example, during a recessionary period, many homeowners may list their house for sale. Since the supply of homes entering the home resale market increased without a corresponding increase in demand, the market absorption rate has been exceeded, and the market price of the resale homes declines. A simple definition is the number of weeks it takes to sell the current inventory at the present rate of sales.
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