Are you thinking of selling your Colorado home in the Greater Denver/Front Range area? Good idea, it’s a seller’s market right now! Unsure of when exactly to sell your property? Don’t worry, Corcoran Perry & Co. is here to help.
Looking at the market as a whole, now is a great time to sell your home, especially if it’s in the $300,000 to $399,000 price range. More sellers than ever are trying to buy homes, so you will likely receive multiple offers, especially in this price range. About 66% of Denver home buyers got into a bidding war in the third quarter of 2020, so you’ll likely benefit as a seller.
As far as the time of year goes, late spring or early summer is usually a good time for sellers. Research shows that Denver prices drop as the temperature decreases, so you may want to postpone selling in December or January. 2015 data shows by selling in May, seller’s received an increase of 6% on the sale price. Waiting for the right time of year will likely benefit you as a seller, so try to be patient!
Speaking of waiting, if you have not resided in your house at least two of the last five years leading up to the sale, you may want to consider waiting a few years to sell your home. If you’ve lived in your home for two or the last five years, you will be able to avoid paying taxes on your home sale. Definitely something to consider!
However, selling your house is sometimes easier said than done. Consider realistic and emotional factors, like if you are still able to keep up with the yard work and maintenance of the house. Americans notoriously stay in houses longer than they should. Downsizing sooner can be a good idea so the maintenance does not get away from you. Also, consider if you are emotionally ready to leave your home. Selling your home is a big deal. Take some time to come to peace with it so you do not become overwhelmed. It’s likely your home will sell quickly in this market!
If you'd like more information about selling your home, the current market conditions, or how we can help, contact Corcoran Perry & Co. today!