QUESTION: Is this a good time to sell?
ANSWER: 2019 has brought us a very interesting market so far. We have seen a general “cooling” of activity with the multiple offer scenario in our rearview mirror (for the most part). This is actually a good thing for anyone looking to make a move.
For people with a home to sell, much of what has kept them from listing is the fear that they will not be able to find a replacement property. We have seen very little increase in inventory over the last few years and this has been discouraging to those who are looking to find a replacement home. 2019 is proving to be a great change from the norm with an increase of almost 50% in active listings in the Denver Metro area. This leaves sellers with the option of selling and the reality of finding their perfect next home.
Mortgage rates are still holding fairly steady which means there is a strong pool of buyers in the marketplace. Good mortgage rates also work in the seller’s favor for when they turn around and buy a replacement property. We are expecting rates to rise towards the middle of this year which leaves the present as a great time to take advantage of rates while they are still lower. With housing inventory still relatively sparse, it creates a great opportunity to exercise good old fashioned supply and demand making your listing that much more valuable with less competition in these winter months.