According to conventional wisdom when selling real estate, once you pass the Autumnal Equinox, there's no sense in putting your house on the market. And if you're a buyer, there's no sense in looking for a house during the fall either. It's widely believed that all the ˜good stuff' will come on the market in the spring.We think it's time to reconsider that old thinking. According to statistics quoted by Denver Real Estate blogger John Rebchook on his widely-read InsideRealEstateNews.com, œThe number of unsold homes in the Denver-area market are at an 11-year low. And according to our statistics, that trend has continued in many Denver neighborhoods.
Combine this low inventory with interest rates that are as low as they've ever been, and you have a rare situation in the Denver market. We know home buyers are continuing to look for homes, because they still haven't found what they've been looking for in the busy summer months. And with the typical seasonal slow down, new listings are few and far between. As a result, our savvy brokers are counseling sellers to list their homes NOW instead of waiting to put their properties on the market next spring.
Don't get me wrong. Even with the dramatically low inventory, there still might appear to be lots of houses on the market. But many of those homes are not in good condition, or are over-priced, and they will continue to linger on the market.
So if you're a seller with a great home that's well-maintained, ready to show to the pickiest buyers, and willing to correctly price the property, we might need to talk! And if you're a buyer, you'll probably face less competition for those great houses in the slower-paced market of the fall and winter.
Frankly, this may be the year to stop playing the waiting game.
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