This snapshot of the real estate market in Arvada, Colorado provides info on homes for sale, under contract, sold in the past six months, and number of days on market using information taken directly from Metrolist on December 8, 2009.
I've provided a particular number called ‘absorption rate’, which many of you may be unfamiliar with. I think it's one of the most useful statistics we can be aware of.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.
We would expect the more expensive homes to take longer to sell, but these graphs show a dramatic difference. The first-time home buyers’ tax credit has made a huge impact on the lower -priced sales and really got things moving.
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.
(I'm still working on getting rid of so much white space, so be sure to scroll down and see all my lovely charts.)
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. Learn how to buy a house in Colorado.
Read more about Arvada’s other neighborhoods, shops, and things to do, and read more about Olde Town Arvada.
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.
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