Although timing the market is generally taken as something generally encompassed by the saying ‘20/20 hindsight vision’, the advantages of selling your property in May can be taken as dictum for home sellers. That said, the best time to list in the Denver metro area is historically between May 1-15, with this magic window earning an average of 1.1% increased sales price (or $4,300 dollars on an median priced home in Denver). Not too shabby, especially if one is concerned by the slowing housing market and shift toward buyers leveraging. Another good selling fact to know; the best day to list your home in Denver is Thursday, while the best day to list nationally is Saturday. You will likely notice this if you follow Redfin at all and see a bounty of ‘new homes for you’ which come into your Thursday morning inbox.
The Price is Right [please take note]
Peaked your interest in selling your home? Even if you’re not ready to take the leap, a lot of information can be gained by producing a Sellers Report, stating your home’s value, neighborhood comps, appreciation rates, and data on the list to sales price of homes in your nearby area. As the market begins to shift, it is ever important to price your home accurately and competitively.
Risks of overpricing includes increased days on market, decreased buyer pool, risk of stigmatization, and as a rule of thumb, a home priced 10% over market value ends up selling for 10% under market value, a price disparity one does not want to risk. If you would like to discuss more on this topic, please feel free to reach out.