“Timing in life is everything” is a saying that has been around for a long time, and it applies to just about everything we do in life. It’s never been truer than when you apply the statement to real estate. In the past, the mantra has been “sell high and buy low.” Many people don’t realize that it usually doesn’t happen in real estate. If you are selling a home at the peak of the market, chances are you are also buying at the top of the market, unless you do what I have been urging my clients to do which is sell their home for peak price this spring or summer or next spring or summer. Then, take a year and rent. Wait for the market correction to come in late 2018. When home prices begin to drop by 10-15% take the cash you have in the bank (that has been earning interest) from the sale of your home and buy a real deal!
Selling a home at a peak price again is all about timing. If you follow the real estate trends like we do, you’ll know that for the last five or six years the Denver Metro area and surrounding suburbs have been following the same pattern. The selling season begins around mid-March and lasts until about mid-July. This is the best time of year to sell your home. How good is it? Let’s consider the MLS stats for the last year. There were just under 60,000 homes and condos sold in 2015. Almost half at 47% or about 28,000 were sold in the four months between March 15th and July 15th 2015. Can you imagine half of our entire inventory in this city is sold in four months? That means the other half or 32,000 homes were sold over the next EIGHT months. That’s how big and how important the selling season really is. This pattern has not changed in the last five or six years.
Highest Months for Closed Units
When you query the MLS and say show me the highest months of closed units in the calendar year, it will show you June and July. That’s because people put their homes on the market in April and May. When you ask the MLS what the next highest month for closed units is, maybe they’ll tell you October or November. The reason is people put their home on the market at the end of August or September. Again, timing is critical, and we are always amazed when we speak with consumers that their past or current agents have not discussed the pros and cons of timing the market.
It’s only April 19th. There is still time to get your home on the market and still take advantage of the selling season. If you want to know more about the process and how fast we can have your home marketed and ready to sell, contact us at firstname.lastname@example.org or 720-446-6325.
Dan Polimino is a Broker/Owner with the Colorado Dream House Team, Keller Williams Realty DTC. Contact the Colorado Dream House Team, Keller Williams Realty DTC. Follow us on Twitter, Like us on Facebook, Watch us on YouTube, Questions?