Sellers get nervous this time of year if their house doesn’t sell in a couple of weeks. Megan Aller, Senior Data Analyst at 1st American Title, reassures us there is no need to panic. “No, the real estate market is not crashing. I have been tracking and trending the market since 2013, and I can set my watch to the seasonality.” Aller continues, “This time of year, there is a retraction where there is a shift in the relationship between supply and demand, and there is a natural pullback from the intensity of spring months.”
Therefore, when selling a house this time of year, you should follow three simple rules of advice:
#1 Do Not Panic: There is a natural slowdown in the real estate market in the Fall months. It is not a market crash.
#2 Level Set Expectations: The average days on the market go from 22 to 40 days. It just may take longer to sell your home.
#3 Wait on Price Reduction: Because it is a slower market, it does not mean a sudden price drop is warranted. If you drop the house price too quickly, you could leave money on the table.
For more information on market data and house titles, please contact:
First American Title - Greater Metro Denver
If you have any questions about selling or buying a 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