Summer is here. The weather is heating up, and so is the real estate market! While the past few months have seen restrictions and challenges around how we typically operate, the market has rebounded in a big way. And if you’ve been considering selling your home, now might be the perfect time to take the next step.
Let’s look at the numbers: As shown in the chart below, the number of properties sold across the Front Range has steadily increased with the ease of COVID restrictions. In fact, last week saw a 22% increase from the previous week alone. We know anecdotally that summer tends to heat up as well. Last year in Denver, the average days on market was only 11, and the average list to sale price was 99.6%!
Getting Ready to Sell?
There’s plenty to do to get your home ready for sale, especially when it comes to merchandising and prepping it for listing. While there is work involved, the benefits surely outweigh the costs. Studies show that staged homes sell 83% faster than unstaged ones.
Let’s review a few of the most important ways to get your home ready to sell.
Fresh, neutral paint can make your home more appealing to buyers, as well as increase your property value. A nice paint job shows buyers that you care about your home, and that it will serve them well over the years. This can help achieve a greater ROI when you sell it.
Adding landscaping elements to your front or backyard can also enhance the look of a property. This will not only make selling your home easier, but it will also add value for refinancing if you choose to go that route. The return on investment is usually not just in equity down the road, but also the benefits of more shade and/or privacy!
A home that needs repairs will surely deliver a lower price in any market. While Colorado’s market is typically fairly ‘hot’, some buyers will not even look at a home that needs major or obvious repairs. Home repairs can be very expensive, so if there’s a lot of repairs needed, try to focus on the major ones that will make your home ‘sellable’.
As mentioned earlier, staged homes sell 83% faster than unstaged. While this can be a tricky process to coordinate as far as storage, pets, etc., it is a great bet to accelerate the sale of your home.
Professional Photography, 3D Tours, and Video Walkthroughs
Now more than ever, it’s important to have attractive, professional multimedia for real estate listings. As people are operating more remotely, they are doing even more of their home searching online. So if your home is listed without numerous pictures and/or a video walkthrough, you may be literally selling it short. Additionally, having an interactive 3D Tour available on the listing is an amazing way to let people ‘tour’ the home without ever stepping foot inside. At 8z, we’ve actually had homes sell over a weekend, and even the day it was listed, purely because our agents utilize these virtual tools to showcase listings for buyers and sellers.
There’s no question that selling your home can be a challenge. However, if you take the time and the right steps to prepping your home for listing, it will seem like much less of a challenge and more fun.
If you’d like to see how we help our clients sell their home, take a look at our 8z Listing Solution.
There are more ways than ever before for homeowners considering selling their home. If you’re curious about all your options, visit 8zSelect.com