Arvada’s Five Parks neighborhood currently has 15 homes for sale, ranging in price from $275,000 to $300,000 for attached homes. Available detached homes start at $375,000 and go as high as $525,000. Two of these are short sales. Most of the listed homes have been on the market for several months, which is not unusual in this price range.
There are three Five Parks homes currently under contract. Their listed prices were between $375,000 and $435,000. One of them is a short sale which has an offer on it pending lienholder acceptance. The number of days before these homes went under contract were 355 for the short sale, 126 and 369 for the other two.
Seven homes sold in Five Parks in the past six months, two of them were short sales. Their selling prices were from a low of $274,000 (for an attached home) to $464,000. The number of days on the market until these homes were under contract ranged from as few as 8, to as many as 735, with the average being 200.
Here's my thoughts on Five Parks:
There is a 1 year absorption rate in Five Parks. (That means if no more homes came on the market, and homes continued to sell at the same rate, the current inventory would sell in one year.) That's not good news for home sellers in Arvada's Village of Five Parks Neighborhood. However, Five Parks remains a popular neighborhood. Since its inception, this neighborhood has promoted a community feel, and that shows when talking to loyal Five Parks home owners. Still, there are some negatives this neighborhood has to deal with. Busy train tracks border one side of the neighborhood, lot sizes are small, Arvada's shopping and entertainment are not close by, and new homes are being built nearby, which will be some heavy competition for home buyers' attention.
If you want to see any of the available homes in Five parks or anywhere in Arvada or the surrounding area between Denver and Boulder, please give me a call. To list your home, please let me know you're thinking about selling asap - I take only a limited number of clients at a time.
Read more about Arvada's Village of Five Parks neighborhood here.
Copyright © 2011 Joetta Fort
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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 here's a little intro to 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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