Tags

, , , ,

It is an interesting time in the real estate market. The media makes the market sound so much worse that it is. In my 10 years in the real estate business, I have had a much higher percentage of my listings sell this year. and I am down to little inventory. If the homes are priced well, show well, and are marketing well they sell. Some homes are getting multiple offers. The hottest market is under $250,000 but homes higher than this are still selling well. The overall inventory in Denver had dropped 20% over last year.
It all comes down to supply and demand for that city, that county, that specific neighborhood and street. The supply and demand in your neighborhood could fluctuate weekly and this dictates the market value. If a home on your street just sold for 5% more than the last few homes in might help the price of your home, conversely if a home just sold for 5% less on your street it might effect it negatively.
But the main thing is looking at the trends over the last month, 6 months and 12 months in your neighborhood and the market comps to get a good pricing strategy. If there is really a huge spread in pricing, another thought is to bring in an appraiser before putting the home on the market. The first month on the market is the most critical for the pricing of the home and to make needed adjustments

Advertisements