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Douglas County, Parker, Highlands Ranch & Castle Rock Sold Homes Report

October 8th, 2010 | Written by | Market Reports for Parker Colorado

Douglas County, Elbert County and Parker Colorado Homes Sold Report

Here is a quick and very telling look at the (DEP) Douglas County, Elbert and Parker MLS Sold Homes comparing September 2009 to September 2010.

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The absorption rate sits currently at 8.8 months of supply.

From my own market experience I can tell you that I’m seeing a lot of short sales which will unfortunately and most likely eventually turn into foreclosures for the Parker Colorado real estate market. Of course if the homes sell as short sales they won’t become foreclosures but we have a lot of inventory to work through.

I’ve noticed a lot homes just starting to enter the foreclosure proces which also means that many people have done everything possible over the last year or so to hang on but have reached the end of their rope.

This all translates into a tougher market going forward and more downward pricing preassure for straight resale homes that are not in foreclosure and not a short sale. We all know the short sales and foreclosures will price at or near the bottom of the market to increase their chances of selling.

The market for the next few months will certainly not be like it was from January 2010 through June 2010. The market seemed to be on fire and everything was selling as it had been years ago. It almost seemed like we were burning through all the excess inventory at a record pace.

Hats off to all who took advantage of the low rates, first time home buyer tax credit and the home seller tax credit. Hindsight tells us you acted when the time was right and probably made a good decision doing so.

Fence sitters who thought about selling during that time… it may end up costing you in the long run with some additional depreciation.

The graphs below were professionally supplied by Jim Renshaw of Land Title.

Parker Colorado Homes Sold Graph

Parker Colorado Condos and townhome Sold Graph

 

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Steven Beam, Realtor, CRS
303-941-4663
18551 E. Mainstreet Suite 2-A
Parker, CO 80134
Parker Colorado Real Estate

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