A question was posed to me the other day if a seller should list his home now or wait until April 1st for the start of the selling season. As I have stated many times before, the selling season in Colorado is April 1st through July 31st. That is the best time to try to sell a home. It's spring/summer, homes look great, and buyers are in the market. Normally, I would advise sellers to put their home on the market in April, but I am not suggesting that this year.
At the end of December, there were only 8800 single-family homes on the market, according to Metrolist, in all of Metro Denver and surrounding suburbs. My business partner, Gary Lohrman, who has been in the business for 33 years, says he has not seen that low of inventory since the mid-80's. There's no question that everyone agree that these numbers represent some historic lows. As such, I would advise potential sellers to take advantage of the market right now.
I would expect that by April or May, we would see an additional 2000-4000 homes coming into the market. If you are thinking about selling, why not beat the rush and get your home on the market before April? Granted the weather won't be that great and the yard won't be picture perfect, but you also won't have potentially a few thousand more homes to compete with.
Yes, you could join the masses and put your home on the market this spring, but I think that the smart move here is to beat the competition. Again, normally we would not be having this conversation in February, but I think there is an opportunity here for sellers. If you do decide to wait until spring, start thinking now about getting your home ready for sale. What projects need to be done in the next two months to get your home showing better than everyone else? The buyers will be out and you need to be ready. If you are not sure what to do, speak with an agent today.
Dan Polimino is an Owner/Broker with Keller Williams Realty DTC. He can be reached at dan@coloradodreamhouse.com and www.coloradodreamhouse.com/denverpost
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