Many people ask me when the right time is to buy a home, if there is a better season to look for a place, or the best month to put their home on the market. The thing about the real estate market in Denver is I can try to predict the best time but with how fast this market changes on a daily basis, that answer could change over night. Many people put their home on the market in the summer because that is when a lot of people are looking to move. For example a factor like school is out for the year can make a big impact on a family’s decision and if they don’t want to deal with moving their kids during the school year. Many people look to buy in the summer as well because of the weather makes it easier to move without worrying if they are going to get rained on or their boxes will get soaked due to the snow.
A lot of clients I have talked to this summer have expressed concern when it comes to buying a home especially. They feel that there is just not a lot on the market right now and with every house that is on the market comes a good dozen plus other buyers vying for that home. What I have come to see though in the past few weeks is an increase in inventory and actually a bit of a lowering of prices. That being said, new homes aren’t just coming onto the market in huge numbers on the daily but if you keep an eye out you will see they are more frequently making an appearance in the MLS system.
With that being the case, another thing I like to talk to my sellers about is the reality when it comes to pricing their home. Many sellers have a number they want to put their home on the market for and because of the hot market in Denver, a lot of the time they want to ask for the pie in the sky. While many houses are going for more than asking price, I always try to tell my sellers to be realistic when pricing their home because the last thing we would want is their home to sit on the market for a few weeks with no bites and have to go back and reduce the asking price. The great thing about having an agent help you is when we can do a market analysis of the area and other houses that are similar to your own and from there we can pinpoint an appropriate asking price.
If you think this summer is the time to put your home on the market or start looking for a place, feel free to contact me and let’s set up a time to talk.