It’s Thanksgiving week. That means we are just about a month away from the new year; how crazy is that? That also means we are well on our way to the winter months. Snow is in the forecast for tonight.
Winter is a special time for the Denver Metro real estate market and can mean good things for both buyers and sellers. For buyers, there are less people out actively looking for a home during the winter months which mean you get to shop in a less competitive market. Good news indeed especially in our market.
For sellers, it is often misconstrued that winter is a poor time to be selling. So let’s set the record straight; be ready for facts, bar graphs and stats!
First, examine this bar graph.
Here you see the Odds of Selling. Which is relatively unchanged between homes sold in winter months versus spring months. Obviously the higher price points are affected differently, however for under $400,000 price points the Odds of Selling are still extremely high. This shows that even though there are less buyers in the marketplace homes are still selling and selling quick.
Now examine this bar graph.
This shows us how many months of inventory we have at any given point. During the peak season (spring) at the peak price point (200-399k) the Denver Metro market has 0.5 months of inventory available. Meaning for all the buyers looking we run out of houses to sell half way through the month. During winter months this only increases to 0.7. Clearly the demand for houses is still incredibly high. Which tells all prospective sellers that your house will sell in winter.
Finally, check out these little stats.
There are a few areas of a real estate transaction that not many pay attention to. Things like: Appraisals, Lending, Title Teams and Turnaround Times. During the spring and summer months the Denver Metro market is crazy busy. Title companies are processing two to three times the amount of paperwork, appraisers are scheduling weeks sometimes months out and Lenders have their eyes on two to three times the amount of loans. In the winter this all dies down. Title companies can process much quicker, lenders have more time to devote to your file and appraisers can schedule your appraisals much quicker. This all means a smoother transaction for all sides, not to mention quicker too.
So if you aren’t sold yet here’s one more thing. Buyers buying in winter tend to be more devoted, dedicated and serious buyers. They have typically spent all summer fighting to get in a home and are still in the market. That says one thing about them. They are dedicated. Sellers are getting serious offers and working with buyers whom are willing to do what it takes to close.
Are you ready to sell? The buyers are waiting. What are you waiting for?
Call us with any questions and of course let us know when the time is right for you. We are happy to help you buy, sell or invest in real estate.
-YOUR Team CO