Many sellers are hesitant about putting their house up for sale in the fall. Contrary to the belief that homes don’t sell this time of year, there are several reasons to sell your home sooner rather than later. Here are four of those reasons:
1.) Demand Is Still High –
Home buyers are out in record numbers to take advantage of today’s low interest rates. The rent vs. buy balance is still in favor of renting! There are buyers out there right now and they are serious about purchasing.
2.) Supply Is Still Low –
Total housing inventory last month was 7% below previous month and 19% below the same time last year. With 1,837 current active listings in Denver we are at 0.86 month supply level – this means there is less than 1 month of inventory of homes for sale in Denver at the current sales pace.
Many expect inventory to rise as 3.2 million homeowners escaped the shackles of negative equity in the last 12 months and an additional 1.9 million are expected to enter positive equity in the next 12 months. Selling now while demand is high and before supply increases may garner you your best price.
3.) New Construction Is Coming Back –
Over the last several years, most homeowners selling their home did not have to compete with a new construction project around the block. As the market is recovering, more and more builders are jumping back in. These ‘shiny’ new homes will again become competition as they are an attractive alternative for many purchasers.
4.) It’s Time to Move On Towards a Better Life
Lets consider the reasons you are thinking about selling and decide whether it is worth waiting. Are you looking to be closer to your family? Is it being in a better location? Is it the freedom to go on with your life the way you think you should? Would you rather have a few extra (possibly, but not guaranteed) extra dollars or have your reasons?
You already know the answers to the questions we just asked. You have the power to take back control of your situation by putting the house on the market today. The time may have come for you and your family to move on and start living the life you desire. Call Lana Cordier Shelton, Denver real estate agent to discuss the sale of your home this fall.