Below are the top three reasons why NOW is a great time to sell a home in the Black Forest, Colorado area. After that, we discuss whether it is best to sell now or wait until the weather warms up.
1. The number of homes that buyers have to choose from in the Black Forest is at 5 year low.
Black Forest CO Home Inventory Levels at 5 Year Low (Source of data: Pikes Peak MLS)
2. The average sales prices of homes in the Black Forest are at their highest levels since 2007.
Source of data: Pikes Peak MLS
3. For 2016, the average time that it takes to get a house sold in the Black Forest area was at a five year low. In 2016, it took an average of 44 days on market for a house to sell.
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February 2017 is already shaping up to be a great month of Black Forest home sellers.
- Three homes have already sold in February.
- This week, two sellers accepted offers and are under contract.
- Two homes were listed this week.
- As of today, buyers have 31 homes in the Black Forest area to select from. The homes are on lots ranging from 2.5 acres to 40 acres. The prices range from $399,900 for a three bedroom two bath home with 4,048 square feet to $7,700,000 luxury estate with 15,643 square feet.
For a more detailed real estate market analysis, check out the Black Forest Colorado Real Estate Update . The complete market report has sales 2016 data. It also provides a break out of sales and available homes by price range.
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It is a great time to sell but should you put your home on the market in February, a wintry month?
Well, it depends. I would say yes, if your house is on acreage with lots of pine trees. Your yard will still have plenty of “street” appeal even though it is February. It would be wonderful if you could have some pictures taken after a snow fall. Homes in that are tucked amongst tall pine trees in the Black Forest are especially picturesque at this time of year.
What about if your home is situated on one the open lots in the Black Forest? Is it still a good time to list? I’d say that it depends on your price range and what your lot looks like. If your home is in the $350,000 - $600,000 price range – go ahead and consider listing it. There are so few homes in the Black Forest available that a brown yard isn’t going to hurt your sales price.
If your home is a great horse property that has a nice stable or barn and/or if it has an indoor arena, I’d recommend listing it. There are not very many competing horse properties for sale in the entire Colorado Springs area with those features available at the moment. As of today, there are only 4 homes for sale in the Black Forest area that have barns and/or stalls. Another 6 homes appear to be on lots zoned for horses. Of course, it is important to always verify that zoning and subdivision rules permit horses.
If your home is a beautiful estate on 2 – 5 acres and it will be priced over $1 million, I’d suggest maybe waiting until the yard and your outdoor kitchen and/or patios look inviting. Again, this depends on your unique home. I have seen some homes that have beautiful yards even in the winter. The homes in this price range face more competition. As result, you want your home to look its very best.
On the other hand, a buyer that really wants a home like yours could be needing to find their new home as soon as possible. If you would like to me to come look at it and offer my opinion, please feel free to call or email.
Would your house in the Black Forest sell for more if you wait until April or May? Maybe. However, I would recommend considering your carrying costs and the potential increase in the price of your next home. Carrying costs include house payment, taxes, insurance, home owner’s association dues, yard care, maintenance and possibly your utilities.
If I can be of any assistance, please do not hesitate to call or email me.
Sincerely,
Sondra
Sondra Meyer
Real Estate Broker
Hayden Outdoors, LLC
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