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A Closing Window
For home sellers who would like to move to a new home this year, there is a window of time that is closing as we head into the Fall months.
Most people know that the Spring and Summer are the most active months for real estate and that activity trails off into the Fall and Winter.
Here are the specific numbers behind this…
The number of homes sold along the Front Range in November tends to be between 15% and 29% lower than September.
That means the best window of time for current sellers to obtain a contract from a buyer and close by the end of the year will occur over the next 45 days.
For sellers who have homes on the market today, it is time to ensure that:
- The home is priced right versus the competition
- All of the marketing elements are in place
- It is easy for a buyer to make an offer on the home
Over List
A statistic we keep our eye on is the percentage of homes which sell for at least list price.
In a robust, healthy, market with lower inventory, we will frequently see homes selling for their asking price or even higher.
Here are the number of sales that occur for list price or higher in each of our major markets:
• Fort Collins = 60%
• Loveland = 60%
• Greeley = 71%
• Windsor = 56%
There are a couple of things we notice about these numbers. First, well over half of all sales are for at least list price. This means that a buyer needs to be prepared to make a full price offer (or higher) in most cases. This also means that if a seller is priced right and marketed effectively, they should achieve their asking price.
We also notice that these percentages are lower than one year ago. In 2018 these numbers were 5% to 10% higher in each market. This is good news for buyers of course because the bidding wars are not as intense as last year.
