When it comes to selling your home, when is the best time to do it? Should you wait, or should you make your move? What time of year is best?
When people ask this kind of question, they’re already a step closer to the truth than they might think. They already understand that timing is the most important factor in selling.
Lately, the Denver metro area has been one of the biggest selling hotspots in the nation. With several instances of multiple offers, consistently rising home prices, and record sales, this definitely seems to be the case.
A number of things affect the market, including economic growth, population growth, and interest rates. When looking at the right time to sell, all of these factors are significant.
Right now, these factors have created a perfect storm for sellers. As demand continues to climb, this climate is likely to persist.
However, waiting around based on predictions may not be a good idea. A lot of things affect the local market, and with interest rates expected to increase in the near future, there is no time better to sell than now.
We simply don’t know what the future of the housing market will look like. What we do know is that right now is a great time to be a seller. In fact, this is one of the best-selling markets in our history.
But regardless of other factors, the time of year does consistently have an impact on the market. Spring and summer are typically the busiest times of year in real estate, while fall and winter tend to be less so.
However, with lower inventory and less competition in the fall and winter, buyers may want to consider looking during those times instead of when the market is hot.
Ultimately, there are benefits to any time of year. So when it comes to timing your sale, it’s best to look at other statistics, like days on market, absorption rates, and months of inventory. Knowing the competition is another key factor.
With all of that said, the only real way to determine if now is the right time to sell is to ask yourself, “What works best for me?” If you have good reason and you are motivated to do so, it’s always the right time to sell.
If this is true for you, you should definitely take advantage of today’s incredible seller’s market. We can never know how long it will last—so don’t wait.
If you have any other questions or want more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.