Updated May 12, 2017
Barry Kunselman | 303.887.0588 | Contact Barry
Denver is a seller's market. Since 2013, the demand for affordable homes have more than surpassed available house for sale. The inventory of homes for sale currently sits at 1.2 months. A six month inventory is necessary for a normal market.
- Homes are Selling Fast.
Homes in the Denver Metro typically sell within 30-45 days. The heaviest buying month is in the second quarter of the year. With more people migrating to Denver, housing demand continue to push sales prices higher which will put money in your pocket.
- It is Easier to Get Your Home to Appraise.
The problem for home sellers in the spring is appraisers use data from homes sold 6 months ago when the prices are typically lower. When you sell your home in the summer months the appraiser compares homes sold in May and June which have much higher median sold prices, making it easier to appraise your home if you get into a bidding war.
- You Have More Homes to Choose From.
Looking to sell then buy? There is an increase in the number of listings that hit the market every July because sellers are desperate to find a home before the next school year starts. Inventory levels also rise during this time because many homeowners are aware they can sell their home for more money in the summer.
- There is Less Competition.
I noticed that it is much easier to find a house and win a bidding war in the middle of summer because there are more homes on the market. This spring, some of my buyers were competing with 10-20 offers on a single home while this summer the average number of offers went down 3-5.
- The Weather is Perfect for Moving.
Who wants to move in March when there is a chance of rain or snow? Even though May will bring our highest level of moisture this year, typically March and April bring the most unfavorable weather. You are less likely to encounter rainy weather in July and August.
Listing your house for sale now will allow you to capitalize on the shortage of homes for sale in the market, which will translate into a better pricing situation. Click on the link below to find out how much a buyer would offer for your home.
Find out what your home is worth
If you are thinking about selling your home this summer, you might be reaching your desired price sooner than you think. Contact me for a free personalized home evaluation at barry@porchlightgroup.com or call/ text 303-887-0588
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