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.