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Timing your entry into the real estate market will probably mean more money in your pocket, and there's no doubt about it! The Best Time To Sell your home varies from location, to season, to market dynamics, so pay attention to the clues.
Here in Colorado, the seasonal ups and downs of the home selling market are pretty constant and predictable. From early February into May, and then again from August through October, prices tend to expand with typical increases in market activity. The opposite is also true.
When there are fewer homes for sale in either your area or your price range, buyers are forced to make compromises, are quicker to act, and are eager to pay more. Thus, understanding market dynamics can certainly work in a seller's favor!
Local economic variables will also influence the real scene just as much as seasonal changes can. For instance, news about jobs, or the fear and anticipation of interest rate increases, can also create surges by increasing market demand and buyer urgency.
If you are poised and flexible with your timing to enter the market, then our next bit of advice is to pay attention to the combination of local economic indicators and inventory levels.
Ideally, you should try to list your property for sale when those inventory levels in your price range and your area, are showing signs of decline. When housing inventory is being depleted at an increasing pace, that is your signal to act.
By positioning yourself to take advantage of increased competition among buyers, you will likely realize a better price, a quicker closing, fewer conditions with the buyer's offer, and experience an much better selling opportunity.
Every month, we prepare an inventory report for all areas, which examines where the local submarkets are losing or gaining inventory. This inventory report is very important to determining when the best time to sell your home will be. If you'd like a FREE copy of our "Monthly Inventory Analysis", simply fill out the easy form below. Then, just check your email.
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