You have heard me say and write about it for years – the peak selling season in Denver is April 1st through July 31st. As such, people have been putting their homes up for sale for the last 90 days, trying to take advantage of the hot market and rapidly rising prices. So what does that mean as we head into the month of July?
Here are a few talking points:
- Many people decided that the market was so good that they were going to sell their homes themselves. In most cases, they were very aggressive with the price and the homes are still for sale. These sellers have a decision to make: Either take the home off the market because the price just was not realistic, lower the price or a combination of lowering the price and hiring a professional marketing team like The Colorado Dream House Team.
- Those buyers that cannot find a home should be able to find something in July or August. These will be the PEAK months for inventory. Once we get into September and beyond, inventory will shrink again. Many people who have had their home listed since April and have not sold will be fatigued.
- If you still want to sell your home and it has not sold, ask yourself, “Why did the house not sell?” A) Was it overpriced? B) Did the house not show well? If so, what should have been changed, updated, repaired, replaced or improved? C) Did you hire the right real estate team with exceptional marketing? Did that marketing drive enough showings?
- August is the slowest month of the year. Families are trying to get on a last minute vacation, kids are starting school, and no one is looking at homes. If you are a seller, expect a slow month of showings. If you are a buyer, this may be a month that you won’t have to compete, or maybe you won’t have to offer full price.
- September 15th starts the second selling season in Colorado. It’s not as robust as April through July, but it’s still pretty good. So if you missed the first selling season and want to give it try, talk with us in August so we can have your home ready for the market by September 15th.
Enjoy your summer; it will be over quickly.
Dan Polimino is a Broker/Owner with the Colorado Dream House Team, Keller Williams Realty DTC. Contact the Colorado Dream House Team at 720-446-6325, Follow us on Twitter, Like us on Facebook, Watch us on YouTube, Questions?