Real estate can be broken down into 3 simple things – supply, demand, and marketing.
We first need homes to sell – supply. We need people to sell them to – demand. And we need to package and promote them in a way that is appealing and reaches as many potential buyers as possible – marketing. Throughout the year our supply shrinks significantly in the fall and especially in the winter. Buyer demand does go down in the winter, but that is more of an effect of the low supply than the weather. We have listed many homes already this year and we are not able to help with our low inventory issue, since we are selling them more quickly than we can list them including everything from simple manufactured homes to 700k golf course properties.
The demand is still quite high but our supply is lower than it has been in years. 1.5 months of inventory in February to be exact, which is a number derived from currently listed homes in relation to how quickly we have been selling those types of homes over the last 12 months. My honest answer when I am asked this, and I am asked all the time, is whenever you are ready and confident about what you are putting on the market. If you want to wait until a child goes off to college, or the flowers bloom, or your husband finishes his honey-do list – that is just fine. However, the numbers and my experience say a well-priced home, with proper marketing will sell within a reasonable amount of time, no matter when that is. And generally speaking, in our CO market, that is around 3 months.
Call or email with any questions you may have. My information is below.