As we head into the busiest season for Real Estate sales, it is important to take a step back, take a look at the state of the real estate market, and use this knowledge to your advantage when buying or selling a home. Even though sales increase in the spring, Colorado real estate is experiencing a flat market. Currently, there is a low inventory of homes on the market, and sales are down 6% from last year. So what does this mean for you?
Buyers: A flat market means less competition. Therefore, in today’s market, there is an excellent chance to find a great home that suits your needs. But because the market has been slow and home appraisals may be off, it is still a good idea to include an appraisal gap insurance clause in any offer.
Sellers: Now more than ever, pricing strategy is key! Make sure you work with your realtor to make the listing price represents the actual value of the home while at the same time attracting potential buyers. Another must for today’s Colorado market is always to include a health and safety inspection. Buyers are no longer willing to waive this in their offer, so it is best to have it upfront.
For any questions on selling or buying your home, don’t hesitate to contact Chadwick V.R. Williams at Denver Real Estate Professionals. We are happy to be a free resource for all your Colorado real estate needs.
Chadwick V. R. Williams, SRES, CRS, GRI, SRS, Luxury Certified
Broker | REALTOR® | Property Manager