I am sure you’re hearing it all over the place, including from me, that the market is fast moving for sellers and a bidding market for buyers. This is true, in certain segments of the market.
For the average home price in the Denver Metro Area at $250,000…the market is very fast moving, this is actually true for the range of around $175,000 to $300,000. By fast moving I mean selling within only a few days of going on the market and usually at or above asking price in most cases.
For homes outside that price range, it is hit and miss. The area, age of the home and other factors determine the speed of that home selling. Theses homes are still selling, and faster then they would have 2 years ago.
One thing is for sure though… it is a Seller’s Market in majority of the areas.
How can this help you?
Sellers: I was discussing listing (selling) a home with a lady at church the other day. She is on the fence about selling and moving. After talking to hear about her concerns and plans overall, I cautioned her….I told her to be sure that she wants to sell because within a few days of listing her home, she would most likely have an offer from a willing and able buyer (meaning a buyer will to buy her house and able to buy her house t her terms or better). I explained that this is a major plus for her, but that can also be an issue if not quite ready to sell (she could still owe a commission without ever selling, buyers could try and sue her and will cause issues if she does finally decide to sell in the near future).
Buyers: Many buyers right now hear that the market is a seller’s market without actually knowing or thinking what that truly means. When they finally find a home they like, they kick it around for a day, try to make a reasonable, but below market offer and perform like its a buyer’s or neutral market. This cause them to lose (most times) in their first attempt at finding a home, and its usually the home they wanted most. If you, and your Real Estate Agent, work together to navigate the market, are prepared and armed with the most up to date market info, you will be the ones to get that house, while the other buyers (I mentioned above) lose out! Buyers, I highly suggest not trying to do it on your own! Hire an Agent, someone who knows the market and can keep you up to date so you win!
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