The start of spring in Colorado is the start of warmer weather, which in turn leads to more homeowners selling their homes. This is an annual pattern as the end of school is on the horizon and locally in Colorado the lack of snow, greening of grass, and blossoming trees just makes for a better opportunity for sellers to showcase their homes for sale.
If you’ve followed the market from year to year you’ll notice this is a recurring topic.
This time of year, it’s fairly easy to sell a home in a real estate market with limited amount of inventory for sale. However, maximizing the final sales price and terms of a contract is more important than simply placing a sign in the yard after the ground has thawed.
There is a reason I have chosen 8z Real Estate as the brokerage to align my real estate practice. 8z is consistently on the leading edge of real estate sales practices and offers selling systems and tools that have proven to help a seller maximize their sales terms, price and profits.
Too often I see sellers rush to get their home on the market, instead of preparing for the ultimate goal, the right contract terms and price for their home. At 8z, we offer a proven and systematic approach to “preparing” a home for sale. This provides the seller with the best opportunity to obtain the best contract through multiple offers, better terms, higher sales price and ultimately a better selling outcome for our clients.
To put this in perspective I looked back at 2017 2nd quarter sales. For the entire MLS of licensed brokerages, single family home owners sold their homes for 99.7% of their marketed listing price*. That is excellent! However, at 8z Real Estate, our sellers sold their homes during this same time frame for an average of 101.2% of their marketed listing price*. While 1.5% may not seem like a big difference, it’s helpful to see how this equates to sales profits. Assuming a sales price of $500,000, the difference between selling your home for 101.2% and 99.7% is $7,500.00. On a $750,000 home, the difference is $11,250 and on a $1,000,000 home the difference is $15,000! Let that sink in for a moment. I’m guessing this extra profit is something any home seller would appreciate.
So if you’re thinking of selling your home this spring I’d love to meet with you and develop a plan for selling your home that can generate the best selling terms and could ultimately help you earn thousands more in the final sales price.
*(data from REColorado MLS)
A Refreshing Look at the Question “What is my House Worth?”
Let’s take a look at some of the stats for our area to get a better idea of what is going on in the local housing market!
In Jefferson County for March 2018, the average sales price* was:
- $433,000 for Single Family Homes (up 8.3% from 1 year ago)
- $265,000 for Condos/Townhomes (up 11.3% from 1 year ago).
In Arapahoe County for March 2018, the average sales price* was:
- $390,000 for Single Family Homes (up 8.3% from 1 year ago)
- $242,250 for Condos/Townhomes (up 12.4% from 1 year ago).
In Douglas County for March 2018, the average sales price* was:
- $480,000 for Single Family Homes (up 6.7% from 1 year ago)
- $323,000 for Condos/Townhomes (up 11.4% from 1 year ago).
I have access to detailed stats across Colorado and can help you find out the worth of your property any time. I can also help you determine what your home is worth even if it’s in a different area. As always, I am here for you. If it’s time for you to buy or sell, let’s talk.
*Median sales price based on a six-month moving average