THE BEST TIME TO SELL YOUR DENVER HOME

When selling your home, there are many things to consider. When is the ideal time to put your house on the market? Denver, including surrounding areas, a city that’s continuing to grow. Becoming more popular across the nation everyday. The real estate market is known for its competitiveness and fast-paced nature. To guide your decision, it’s crucial to consider both general trends and local factors that influence the optimal selling timeframe.

Denver Real Estate Trends (March 2023 to July 2023) Per MLS, this is considered the peak season.

– Peak Sales: In the past year, the number of closed sales in Denver peaked in June, with 6,726 homes sold.
– Profitable Period: Sellers achieved the highest profits between June and July.
– Fastest Sales: Homes sold the fastest between May and June.

A LOOK AT SELLING IN EACH SEASON

SELLING A HOUSE IN THE SPRING

– Timing: Spring market runs between March and May, typically the busiest season.
– Demand: Increased demand, longer daylight hours, and families moving before the new school year.
– Pricing: Average closing prices peaked in April, and May 2023, exceeding $568,000 for all listings in the MLS

SELLING A HOUSE IN THE SUMMER

– Timing: Summer market from June to August.
– Advantage: competition starts to decrease. Fewer homes are being listed for sale.
– Pricing: Average closing prices peaked in June, and July 2023, exceeding $575,000 for all listings in the MLS.

SELLING A HOUSE IN THE FALL

– Timing: September to November.
– Opportunity: Chance to attract buyers who missed opportunities during spring and summer.
– Flexibility: Potential decrease in buyer demand. This time of the year we will start to see homes sit on the market a little longer.

SELLING A HOUSE IN THE WINTER

– Timing: Slowest market typically is December through February.
– Opportunity: Reduced competition for both buyers and sellers.
– Consideration: Due to a rate height of 8%. We had significant market slowdown in winter 2023. This is creating a lot of pinned up demand for 2024!

HOW TO KNOW IF IT IS THE RIGHT TIME FOR YOU

Various lifestyle and financial considerations may influence your decision to sell:

– Lifestyle Changes: New job, retirement, or wanting to be closer to family.
– Home Improvements: Completed renovations make it an opportune time to sell.
– Financial Readiness: Capitalizing on increased home values to use equity for other investments. As rates start to drop, there is a chance prices will increase.

FINAL THOUGHTS

While patterns exist in the real estate market. The best time to sell depends on your specific circumstances. In Denver, the market has shown resilience, even in slower seasons, particularly in the luxury housing segment. Given the dynamic nature of the real estate market. Partnering with local Denver realtor like John Nichols and Dee Ann Arey, together with more than 20 years of experience. Ensures personalized advice based on current market conditions.

TIME TO SELL?

For expert guidance on selling your Denver home, reach out to Dee Ann and John today. With their extensive experience in Denver real estate, they can provide insightful advice on whether now is the best time for you to sell your home. Whether it’s your first home or you’re looking for another property, the Arey & Nichols Team can help you find the best home for your lifestyle.