The slow-down in buyer demand means listings are on the market longer in Solterra and throughout metro Denver.
Fourth quarter usually brings a SLOW-DOWN IN BUYER DEMAND. This year is no exception. What we haven’t seen in Solterra in a long time is the current level of active listings—33 to be exact, and four of those are on the market for $1M-plus. That’s also unusual. In addition to the 33, another seven homes are under contract.
The Solterra neighborhood in Lakewood, Colorado features gorgeous homes, easy access to outdoor recreation and peaceful foothills scenery.
If you follow real estate, you’ve heard about Absorption Rate. The term refers to the rate at which homes in a given area sell during a given period of time. Homes in Solterra are currently selling at an average rate of five per month. Using that figure, we’re looking at another five to six months just to clear existing inventory.
HERE'S THE THING: putting your home on the market now means you’re listing during the slowest buyer-demand quarter of the year. We’re approaching the holidays. People are traveling. The kids will soon be on break from school. Most buyers put a halt to house hunting until after the first of the year. There’s no reason to go on now unless you absolutely have to.
IF YOU CAN WAIT TO LIST, SIT TIGHT UNTIL JANUARY. In the meantime, I’m happy to talk strategy, timing, market saturation, value—all the considerations that factor into selling your home. Call anytime. (303) 898-4572.
RE/MAX realtor® Andrew Nagel, Solterra real estate specialist, has been helping people buy and sell homes in Solterra since day one.