This spring will be yet another great selling season for homeowners in Colorado. Selling will most likely continue into summer, with the spring being the best time to sell. A couple factors are the reason for this “season of selling.” The first is lower inventory levels in spring versus summer. This is usually the case due to more homeowners putting their homes on the market in the summer after the kids are out on summer break, instead of disrupting them during the school year. This leads to more homes on the market before supply and demand functions kick-in and things level out a little. Therefore, if you want to sell a home valued approximately under $400,000, listing by the end of May would be the best time to do so. Higher value ranges and acreage properties will fair better later in the season.
Last year, we had another factor that really slowed sales down even more: rising interest rates. Interest rates started rising in February and continued to rise for the rest of the year, almost a full percentage point. As this was happening, hundreds of buyers left the market as they were forced to rent for another year. Interest rates have fallen in 2019, so I believe these same folks will be back in the market looking for homes to buy. This will affect the lower price ranges first and continue through the higher priced homes.
If you’re considering a move or cashing-out, right now may be the last time to do so before interest rates rise once again. The home selling process can be complicated and you may be seeking advice on how to best proceed. I know this market back to front, and you’ll never feel pressure from me. I look forward to speaking with you soon.
For more information on how you can get top dollar for your home this spring season, call your “Brighton Real Estate Bulldog” – Greg Portlock today at: 303.521.7325
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