The weather is cooling and so is the Denver Metro real estate market. This typical seasonal cool down means opportunities are high for home buyers. Homeowners may also be wondering if this is a good time to sell. Here are some benefits:
Q4 can be a good time to sell, despite what people think about the traditional selling season being in spring. There is less inventory for buyers to choose from, giving the seller an advantage. For buyers, there are fewer bidding wars.
All-time Low Interest Rates
There is also a sense of urgency because mortgage rates are at an all-time low — the lowest since 2012. According to Lending Tree, over the past 48 years, interest rates on the 30-year fixed-rate mortgage have ranged from as high as 18.63% in 1981 to as low as 3.31% in 2012.
The lower interest rates coupled with recent leveling out of home prices give buyers an advantage right now. There has been a slight spike in affordability allowing buyers more purchasing power than last year at this time.
You’re Ahead of Your Competition
The process for selling a home can be strenuous, from finding the right real estate agent, applying for a loan to buy another property, getting the house ready for buyers — which all takes time and planning. Starting now in the winter months will give homeowners an advantage when spring comes along. You’ll be one of the first on the market if you don’t make it in time during the winter. If you do get your home on the market this winter, you’ll be celebrating the new year in a new home!