2022 is 100%.... or more!
We have all heard about the crazy market out there. Let's take a closer look at some of the highlights and facts and get some good tips for both buyers and sellers to ensure a successful real estate transaction.
Each of the four counties have a significant drop in the number of active listings, or homes for sale, when compared to 2021. This means that there are simply less homes for buyers to choose from, which creates a positive supply and demand situation for sellers.
Start your search early!! With less homes to choose from, you may need to try multiple times to get an offer accepted. Give your self plenty of time to try and try again.
All four counties have also shown an increase in both average and median sales prices since one year ago at this time. With less homes to choose from, the buyers are battling it out with over asking price offers in all four counties as well.
It's still best practice to price your home correctly as buyers are still seeking a good value for their money.
The buyers are making good on their promises as well and are paying over 100% of the asking prices in all four counties. These buyers are serious and are not missing opportunities to own homes.
Ensure you know which loan type you have and what the loan limits are for each county you are searching in. This detail will greatly influence how much cash you will need to bring to closing.
Two of the four counties have had a small increase on the number of days on the market. Both of these counties also have more homes to choose from, and so buyers can be slightly more picky when it comes to choosing the perfect home in these areas. If you are a seller in Weld or Adams county, make sure your home is on point to make sure those buyers aren't passing on your home for the one around the corner.
Properly cleaning, decluttering, and staging your home will make a huge impact on how buyers perceive your home. It is worth your time and energy to make sure you are showing ready to maximize time on the market.