Are you considering selling your luxury home in Denver? Are you unsure about the best timing so that you can get many offers on your home? Generally, the best time to sell a house is when the real estate market, economy, job market, and the weather are optimal. Read on to find out what factors to consider so that you can sell your home during the best season!
1. Consult your Denver real estate agent
Every luxury home and real estate transaction is different, with many variables to consider. That is why you need to consult an experienced Denver real estate agent like Elise LoSasso. A real estate agent will compile a Comparative Market Analysis (CMA), which analyzes your home’s key attributes, such as size, age, architectural style, condition, location, and amenities. A real estate agent will then compare these features with similar luxury Denver homes sold within the past few months. Using the Comparative Market Analysis results and considering the current market conditions, a real estate agent can determine the most optimal time to sell your home.
2. Consider the Denver real estate market
When selling a home, first consider the condition of the local real estate market. Determine if the local area is experiencing a seller’s, buyer’s, or a market somewhere in between. Knowing what the market is like can help you gauge whether the optimal time to sell is now or later. In addition, looking at factors such as the economy, job market, and even the appreciation rates can help you determine how quickly and how much you can expect to sell your Denver home.
Denver is experiencing a strong seller’s market, characterized by low inventory and rising home prices. As of January 2023, the median price for Denver homes for sale is $630,243, which is nearly a 15% increase from the previous year. With greater demand, most of the homes are selling within 51 days. In addition, with an expected job growth of 45% over the next ten years, many more people will be expected to buy a home to take advantage of the fabulous outdoor and artsy lifestyle that only Denver can offer. The increased demand and thriving job market and economy indicate that Denver is – and will continue to be – a great place for buyers and investors.
3. The best season to sell your home
Autumn / Winter
Another activity that many people add to their lists in the spring is house hunting. There are two key reasons why spring is optimal for house hunting. Many families with kids wish to buy a home before the next school year. For another, the warm weather in the spring offers the perfect time to attend open houses and private showings. With many people interested in buying a home in the spring, there is increased competition which means that more homebuyers are likely to make an offer and even engage in bidding wars. In this climate, spring is optimal for sellers. You might consider selling in the spring to take advantage of the increased competition and rising home prices.
Interested in selling your Denver, CO, home? Schedule a consultation with award-winning real estate agent Elise LoSasso, who can offer expert guidance on everything from the local Denver real estate market to staging and marketing. Elise can help you sell your home quickly and for top dollar!