With the second half of the year upon us; I thought it would be a good idea to share some our customers real estate questions that we have received this year.
Q: Dan: What is the month of the year are most homes sold?
A: Actually, the two most active months of the year for home sales are June and October. Typically, more homes are closed during those two months than any others.
Q: Dan: What are the two slowest months of the year for real estate sales?
A: August and December. August is the month that schools start in Colorado so families are either trying to sneak in a last minute vacation, or they are too busy getting their kids ready to start school. Sales usually slump in August. December is more evident as a slow month because everyone is so busy with the Holidays. If you are in the market, try to buy in August or December when there is less competition, and you may be able to get a better deal.
Q: Dan: This was one of the wettest seasons on record in Colorado. Did that affect home sales?
A: It sure did! People that never had a flood in their basement found themselves with leaks, floods, and problems. For those who have crawl spaces, just about every crawl space was damp. The dirt was either moist or wet from the saturated ground around it. It didn’t necessarily mean there was a problem with the foundation or drainage; it just meant the ground was saturated. Many people who had dry crawl spaces for 10, 20 years currently found them to be damp.
Q: Dan: I heard the market is slowing down. Is that true?
A: Yes it is, but it is typical for this time of year. Forty seven percent of all homes are sold between April 1st and July 31st. It’s no surprise then that people wants to move in the spring and summer. The market tapers off and slows after 4th of July but then picks back up around September 15th. The one X factor that can affect any market is interest rates, so watch out for any bump in rates.
Q: Dan: If we didn’t sell this year, we are thinking about next year. Do you think the seller’s market will continue and if so, for how long?
A: Let me rub my crystal ball and get back with you on that one. Regardless of how the market does, there is a simple formula to sell for the highest price in the shortest amount of time: 1) Price is right in the first 30 days, 2) Make the home show great, and 3) Make sure that you hire a real estate team with exceptional marketing.
Dan Polimino is a Broker/Owner with the Colorado Dream House Team, Keller Williams Realty DTC. Contact the Colorado Dream House Team at 720-446-6325, Follow us on Twitter, Like us on Facebook, Watch us on YouTube, Questions?
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