Offered by: Scott & Lora Nordby – Berkshire Hathaway HomeServices
It’s about this time, every year, we start longing for spring. Warmer weather, birds and blossoms, and more sunshine tend to sound very good to us. Colorado weather can be tricky, though. We can have weeks of dry, warm weather or (as we’ve had recently), we can have weekly snowstorms of varying degrees of accumulation. This is the “in between” season, which may make you feel like you’re holding your breath to make a decision about selling your home.
The good news: Spring Selling Season begins early in Colorado. From December 2019 to January 2020, there was a whopping 89% increase in new listings. You can blame that on a poor showing from the Denver Broncos, and warmer days.
More good news: Interest rates remain low, so there are a number of buyers ready to capitalize on that opportunity. Because inventory remains low, there are more buyers than there are sellers. This means there will be multiple offers for correctly priced homes, which may lead to selling prices above asking prices.
One thing to keep in mind, however, is that market conditions have resulted in more savvy buyers. Homes that are not correctly priced may stay on the market longer, particularly on the higher end of the market.
If you’ve had a house on the market for a while, review your pricing and marketing strategy with your REALTOR®. It may be time to reconsider price or evaluate the obstacles that are preventing your home from selling.
One thing is important to remember: communication is key. Talk with your REALTOR® and discuss your goals and concerns. They are there to work with you to ensure you have all your questions answered so you can make the decision that is best for you and your family.
Whether you are considering selling, or if you’d like to talk about buying strategy, we have a REALTOR® who can help. Please call 303-905-8850. We’ll make sure you talk with someone who is knowledgeable about real estate and your local market.