Douglas Elbert Parker - (Includes Parker, Elizabeth, Franktown, Elbert, Deer Trail, Simla)
196 residential closings up 1.9% over Apr 06. Absorption Rate down 5.4%
Douglas Elbert Parker (DEP) - Absorption rate slightly decreased in April to 24.4 weeks.
| Apr-06 | Apr-07 | % Change | |
| # of sales closed - Month | 194 | 196 | 1.0% |
| # of sales Closed - YTD | 634 | 684 | 7.3% |
| Avg Days on Market | 98 | 114 | 14.0% |
| # of Active Listings | 1,221 | 1,220 | -0.1% |
| # of NEW Listings | 484 | 545 | 11.2% |
| Absorbtion Rate (in Weeks) | 25.7 | 24.4 | -5.4% |
| Average Price (Sold) | 377,095 | 357,118 | -5.6% |
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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