The Time To Sell Your Summit County Home Is Now
We aren’t over exaggerating when we say there may never be a better time to sell your home than in today’s market. Inventory is almost nonexistent. In fact, in Copper Mountain, there are currently no single-family homes for sale. It’s unreal. This complete lack of inventory means homes are selling fast and for record-high prices.
Let’s look at some more reasons why now is the time to sell your Summit County home.
You’ll Have No Competition
Summit County currently has 1.1 months of resale inventory on the market. This low inventory is even lower than last year’s never before seen low level. The lack of inventory continues to drive the median sales price even higher, 38.8% higher than last year.
The lack of inventory county-wide means if you list your home for sale today, you will have no competition, and selling will be a piece of cake. Buyers will have to cater to your wants and needs, which will allow you to get a higher sales price and possibly some extras like renting the home back while you look for your new home.
You Can Cash Out On Your Summit County Investment Properties
If you have an investment property, you should consider selling it as soon as possible. This is especially true if you have a condo or townhome. In Copper Mountain, townhomes are selling in 6 days. Silverthorne is even faster – it is only taking 2 days from list to sell! Frisco’s townhomes are selling in about 3 days, and the year-over-year sales price has increased 84.8% to an incredible $1,430,000.
The thought of selling an investment, especially one that has brought in a nice monthly income, may seem scary. However, the median sales price in Summit County is $2,200,000 – an increase of 38.8% in the last year. Where else can you get returns like that? Plus, if prices come down, and there’s a good chance they will, you’ll miss out on that extra equity.
The Market May Shift Sooner Than Later
This latest interest rate hike is more than we initially predicted, which means if you’re on the fence about selling – do it now so you can maximize your returns. With interest rates jumping another 0.5 percentage point, the most significant increase since 1990, the amount of money home buyers can spend on a home may become less. That means that home values could decrease in the future.
Ready To Sell Your Summit County Home?
We are here to help you get your home listed and sold as fast as possible. We can quickly put together a customized marketing plan, so you don’t miss out on this unprecedented real estate market. Give us a call to get the process started now.
For more information on real estate stats in Summit County for the month of March, check out the charts below.