Here are 6 reasons to sell your home now:
According to ReColorado the average Colorado home sale price was $405,682 in May 2016. This is the highest prices Colorado has ever seen and is a 8.6% increase from a year prior. Even as Colorado home prices continue to increase year-over-year, we see a seasonal drop in price every winter. If you are considering selling, now is the time.
The Denver market has faced a low inventory of homes for sale for over a year, making this market perfect for sellers. With few homes to choose from, buyers are looking for any home to meet their needs and they're often willing to make sacrifices for it. Yours could be the one they are waiting for.
As of May 2016 the average rent in Denver is $1,580. This constitutes a 15+% increase since May of 2014. The rise is creating an increase in millennials interesting in purchasing and creating more demand on a market already struggling to keep inventory. Bottom line: rising rents means more buyers looking for your home.
Low Days on Market
Talk to almost anyone who has sold their Denver area home recently and you’ll likely hear a story of multiple offers in just a few days of listing. As a seller this is a dream come true. With multiple offers in a short amount of time you lessen the amount of time your home is available for showings.
Best Season to Sell
Summer usually sees the most real estate sales… kids are in between school years, the weather is warm, and home projects can begin to feel like a good reason to relocate. Home buyers usually don’t want to buy in the winter, near holidays, unless they absolutely have to. The summer demand also leads to higher home prices during the summer.
Low Interest Rates
As of June 30, 2016, interest rates on 30 year mortgages are at a low of 3.48%. Low interest rates mean more buyers trying to get in while the rates are down. Take advantage and get your home listed now.
Did we convince you it is time to explore selling? Reach out to your agent today to get started with the listing process!