October finds us with surprisingly good weather and an unsurprising housing market. A lot of people see the housing market as an unpredictable monster that if you don’t time things just right will chew you up and spit you out. This is just not the case looking back at the past couple of years the housing market has been fairly predictable and constant.
Denver home values have increased around the 9% mark each year for the past four years, with continued low inventory being a key driver. There has been seasonal slowing again as we get closer to the holidays, which is seen every year around this time. People are getting kids back in to school and thinking ahead to holiday plans. Buyers often put that house hunt off until the spring month’s role around again. This is also why we typically see a very competitive and busy spring market.
The question is how do I use this information to my benefit? Well as I usually suggest to my buyers, this is the time of year to get out there and find your home, don’t wait until spring when you are competing with all the buyers getting back into the shopping scene. I have a great deal of success getting clients under contract in the fall months without the bidding wars you see during the spring.
If you are in a position to sell your home during this time you will also benefit from less competition on the market, everyone waits until spring to sell as well, so generally there is lower inventory during the fall and holiday months. This means your neighbor’s house with all the updates isn’t going on the market the same day your house is. While you may not get twenty offers you will still get good offers from buyers who are not feeling as stressed about out bidding the masses, this generally means a lot less buyer’s remorse and more contracts going through to closing.
All in all the fall is a great time to take advantage of less competition and to miss the feeding frenzy that the spring has consistently brought to the Colorado Real Estate Market.
I am always happy to answer any questions you may have about the real estate market and the buying and selling process. I am always here to help in any way I can.