Are you wondering if it makes sense to put your home up for sale right now? In a nutshell, even in this current market, the answer is still yes, and here’s why.
As I mentioned last month, inventory is significantly lower than it was last year. But that gap has been on a slightly downward trend for a while now despite the increasing mortgage rates. So, capitalizing on the fact that we are heading into the autumn season, typically the best time to buy, means that new listings will still grab attention, especially with a solid selling strategy.
The key takeaway? We’re still nowhere near what’s considered a balanced market. This is especially true in the Denver Metro area which is still dealing with the aftermath of so many homes lost in the Marshall Fire. There’s plenty of demand for your house because there just aren’t enough homes to go around, but there are signs that the market is shifting more towards a buyer’s market, and that shift is projected to continue in that direction as we head into the end of this year and the start of 2024.
As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), explains: “There are simply not enough homes for sale. The market can easily absorb a doubling of inventory.”
So, if you have been considering selling your home, reach out and Joni and I can answer any questions you may have, and help you with a strategy to put your home’s best foot forward to get you the best deal possible.
For proven expertise in establishing your home value and/or searching for a new or existing home and ensuring you are getting the best deal possible, please call Jan at (303) 520-4340.