Reviewing the trends for Denver real estate market absorption, the news is good. Each month this year has seen a drop in the DOM – Days on Market.
What does this mean if you are a seller? If your home shows well and is priced right it will not spend too much time on the market.
Phew! Anyone who has ever gone through the process of selling a home and trying to keep it in Show Home Condition will rejoice at this news. The shorter time your home stays on the market, the less stress you and your family must endure.
National standards claim absorption rates that take 6 months or more to sell a home indicate a BUYER’S market.
The average absorption rate in Denver is 20 weeks as of July 2009. Twenty weeks is a 5 month supply, pointing toward a SELLER’S market.
Of course I want to put an emphasis on the term “average.” Since real estate is local, so is the Absorption Rate. We find the absorption rate varies from neighborhood to neighborhood.
If you are interested in learning what the absorption rate is in your neighborhood, I’m happy to figure it out for you! Just drop me an email or better yet, call.
About the Author
Kristal Kraft
Kristal has been helping buyers and sellers in Colorado since 1984. She enjoys sharing her knowledge of the Metro Denver Real Estate market via blogging and in person while driving around the beautiful Rocky Mountain town of Denver! For fun, Kristal enjoys shooting things with a Canon. Visit Denver Photo Blog
Kristal Kraft
One Comment
Hi Kris – Thanks for the good news. Seems like the absorption is all price range related to me. Those million dollar jobbers are holding us back big time! Our last ~$115K investment house was on the market less than 24 hours. That ought to help the average a bit… -PB
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