Colorado real estate specializing in
Westminster, Broomfield and Thornton
How long will it take to sell my home?
It is actually possible to make a reasonable estimate to determine the likely time frame to sell your
home. Time frames are greatly effected by condition and price of the home. They are also determined
by local factors like market absorption, season and currently distressed properties on the market.
Preparing your home and listing your home for the correct price will greatly effect the time to sell. Below
there is some information that will begin to address this always popular question, "how long will it
take to sell my house?"
Is there a good time to sell my home?
The number of homes on the market in the Denver Metro area for 2012 is much lower than even a year
ago. There were nearly 20,000 homes on the market in December 2010 compared to just over 12,000
in December 2011. Thats a decline of over 38% as estimated by the Denver MLS. Those number do
give some hope to homeowners looking to sell in the near future.
Traditionally the best time to sell has been the spring, fall sales are usually strong as well. Today
selling at any time of year is a matter of standing out over the competition. I have seen some sellers put
there homes on the market during the winter months eventually finding buyers willing to pay a good
price. This is partially due to fewer homes on the market to compete with.
You can either have a property that is more desirable to a large percentage of buyers by being in great
condition, superior location even better upgrades If the home is not better than the competition or it
must be priced more attractively to buyers. Know your competition, seasonally there may be fewer
homes listed. This can be a bonus to listing in winter months coupled with the fact that spring and
summer sales make for good fall and winter appraisals. These months provide appraisers a maximum
number of properties to compare to yours to justify strong sales prices. The negative is that fewer
buyers can be found especially in winter months.
This market has provided a great chance to up-size
Many Colorado homeowners have decided to stay in there present home in recent years partially due to
financial limitations, but there has also been trend to simplify lives. The term nesting has been used in
recent years. These factors have brought visible change to the real estate market here in Colorado. As
we enter 2012, there are apparent differences in demand for entry level housing compared to mid level
and high dollar homes. Current inventory levels change with the price range of available housing. This
makes it possible to plot sold prices against the average days on the market to create a ratio revealing
some interesting results. In brief the higher the value of the home the longer it likely will take to sell.
You can take ratio above as a good indicator of the average time to sell a house based on the estimated
value. I also like to consider a more common indicator by taking the number of neighborhood properties
currently listed and divide that number by the most recent monthly and yearly sales volume to establish
the expected time to sell a property.
Successfully selling in today's real estate market
Marketing and selling a home today can certainly be more difficult than even a few years ago. To
sell your house you must take advantage of any edge you can get. To get a good sales price the
home must be in great condition, clean and clutter free. You have to watch listings and sold
homes in your neighborhood closely to price correctly. You can potentially list when there is not an
abundance of other homes listed in your neighborhood. It can be difficult to sell with distressed
properties available. Timing can be as important as pricing.
The original list price must be correct, a professional broker or Realtor can be a huge help.
Marketing and advertising are more important than ever to get a strong sales price. You have to be
realistic about the value and likely selling price range of your home. The best way to get
comfortable with the selling price of your home is to watch other homes listed and sold in your
market area or neighborhood. Data is available to real estate professionals to help familiarize you
with your current market. Remember, you can list your home or sell your home. Buyers are interested in
a good deal. Any unsuccessful attempt to sell a property will be seen by potential future buyers as a
failure. So get your home priced and listed correctly the first time, and it will sell.
Westminster zip codes 80003 80005 80020 80021 80023 80030 80031 80221 80234 80241 80260
Broomfield zip codes 80020 80021 80023
Thornton zip codes 80023 80221 80229 80233 80241 80260 80602
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|Brian Shaver, Broker Associate