When is the best time to sell a house in Denver in 2017? I wrote a blog a few weeks ago about the best time to buy in 2017, click here. While the answer for that question is kind of all over the board, the answer for when the best time to sell is pretty easy and straight forward. If getting top dollar for your home is your number one goal, then now through May is the best time to sell with April and May being the two best months for 2017. The average sales price is expected to increase up to $50K the next 5 months so this year should be a great time to sell. But if you wait to long, it could hurt you, so let's explore the timing further.
I certainly don't expect you to take my word for it so let's look at some hard numbers. Anyone who reads this blog knows I rely heavily on statistics from Megan Aller with Land Title. Denver's Real Estate Market has become extremely seasonal the past 8 years so predicting what will happen each month has become much easier. From Megan's graph, we see that our market is in a compression phase from February until May. A compression phase is when there are more buyers than there are homes for sale. This is why there are more homes under contract from mid February through early May than there are homes for sale. This is the period when prices get driven up so drastically because of intense competition, probably a good time to sell don't you think?
This next slide shows the prediction for how much prices will increase in 2017. You will see that the greatest increase takes place from February to June with prices starting to fall come July and into November.
So when is the best time to sell in Denver in 2017? From now, early February through the end of May are the best times to sell. If you want to narrow it down further, I would say April and May are the best months to sell. If you've ever been to an open house in April, you will know what I mean when I say buyers are out in droves. All the sales price numbers will be broken in July and August, but that's from homes that went under contract in April and May. Many sellers miss the boat because they wait until July and August to sell and by that time buyers are worn out and done shopping. If you want the top sales price for your home in 2017, then April and May are the best times to sell. But top sales price is not always the most important factor when selling your home so let's talk the best strategy and figure out the perfect game plan for helping you accomplish your Real Estate goals this year.
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