If you've been thinking the housing market has slowed down, you're right—homes are still being sold, but it has slowed down. Indeed, here within Denver, there is something that is quietly surprising that is now happening, as the homes that have prices right for them, that are staged well, and that are marketed considerately all move faster than you might expect, even though it is the middle of July.
We can speak of what is occurring.
Yes, stock in the Denver metro area is up a lot for sure. It feels like listings on each block are in existence now, not like they were in recent years. Close to 6,000 new homes in the region were on the market in June alone which is a jump among the biggest since before the pandemic. That could seem as bad news for sellers. However this is where things get neat: buyers are still very present. They are simply not in a hurry. Also, they are choosing more carefully. That is their privilege.
Over half the homes that sold last month had offers in under a month even though listings went up. That’s a huge clue. The homes selling fast are doing so for a reason exists. They are the ones who get the method right priced fairly, sold well, ready for buyers picturing their lives there.
We’re seeing this firsthand. Homes with correct prices and that show well will often disappear in a time under two weeks. Others that are alike in size or area may sit for weeks without much interest, mostly because their price is too high or they do not look good. In today's market, strategy is what wins.
Right now, pricing matters. That is what is needed for this. The sellers are not able to now put a high number out and hope that someone buys it. Data helps, teaches, and offers calm to buyers. A costly home stays unsold even when it is somewhat like that. Interest has lessened when the house gets a lower price. However, homes listed at a good price using recent comparisons instead of spring sales are getting more views better comments and stronger bids.
Seller rewards with more creativity are appearing too. Rate buydowns, credits for inspection, and timelines for closing that are flexible are causing deals to occur while not always making list prices lower. To make worth for the buyer involves more than only the price tag. A buyer is more apt to proceed ahead if they can obtain some reassurance by way of a home warranty as well as a lower monthly payment or a more current inspection report.
The importance of presentation should not be ignored. In this market area, customers expect to see good photos. They do not have an option for accepting any less. But setup, planting, and also lights have a big role in things. Scent does also play a big role here. Shoppers seek a specific vibe from items. They are not just shopping now for features. A tidy, nice home with new lights and good space says to a buyer, “I’m ready”. The home has great flow, thus buyers notice its appeal. You will not have to do even one thing. And that type of emotional connection leads to offers that are more fast and more strong.
So sellers must set the expectations at an early time. A fast sale is able to occur only if you do prepare the right way. Get ready to change fast from input, make it great, and set the cost well. The market will show you the truth especially during the opening weeks.
This market allows buyers more space. Bargaining includes more space, and proposal involves less stress within 30 seconds. However, flexibility is not time without limits. Good houses still sell quickly, and many still get several bids. The fast pace seen during 2021 is not occurring now. Move ahead upon discovery if a home feels good plus your budget works. Today's deals need more compromise. This degree of teamwork is greater than it was during past years.
I have seen all of that from my own side of the table in these past few weeks. Careful pricing, good marketing, and simple staging made one ready listing get a deal in nine days. A local house has been sitting almost a month with the same shape at a bit more cost. The market was not the key difference here. It was the approach.
The market is not bad. It has underlying strengths. It is merely a market that is different. One for rewarding quick response, readiness, and clear writing. Even though buyers aren't competing with 30 other offers, they're still competing toward the good ones. And sellers? Good sales are still done when they focus on what buyers want now.
Do not let the headlines scare you away, in the event that you are thinking of making a move for buying or selling. There’s opportunity here. This needs that you work with one who can find it.