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Colorado Real Estate Podcast with Lisa RayLearn all the tips tricks about the Colorado Real Estate Market from The Ray Real Estate Team Author: Lisa Ray
If you are looking to buy or sell a home, get all the information and the latest updates, tips, and tricks from The Ray Real Estate Team - your professional Colorado Real Estate Agents. Language: en-us Genres: Education Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Should You Sell Your Home in the Spring or Fall?
Thursday, 20 October, 2016
Should you put your home on the market this fall or should you wait until next spring? Which season is better for home sellers? Buying a Home? Search All Colorado Homes for Sale Selling Your Colorado Home? Get a Free Home Value Report Does it make more sense to wait until spring to put your house on the market, or should you list your home in the fall? I did some research and figured I’d share the data with you. In the past, it was true that summertime had the highest sale prices. However, that trend started changing in 2014. In 2014, the average sales price was $273,166. During the months of October, November, and December, the average sales price was $336,855. That is a $60,000 increase over the average for the year. Why is that? It all boils down to supply and demand. Since everyone waits until spring to put their homes on the market, there were 6,400 new listings and 4,200 sales in March, April, and May of 2014. If you look at October, November, and December, there were only 3,200 new listings and 3,770 sales. Although there were fewer sales, demand was so high and inventory so low that the homes sold for more money than they would have in the spring. It makes more sense to sell in the fall when there is less competition on the market. In 2015, the same phenomenon occurred. In March, April, and May, there were 6,000 new listings and 4,300 sales. In October, November, and December, there were only 3,500 new listings but there were still 4,300 sales. The average sales price remained close throughout the year; in spring, it was $383,000 and in fall, it was $380,000. If you are looking to sell your home for more money, it makes more sense to sell in the fall, when you have less competition and there are more serious, motivated buyers out there who want to get into a new house before the holidays. If you have any questions about preparing your home for the market or about real estate in general, give me a call or send me an email. I would be happy to help you!
