Timing Is Everything In A Tight Market

For sellers in such a tight market, finding a replacement property presents challenges.  A few options to consider:

Buy - Sell

If a good buying opportunity arises and you have the financial wherewithal to acquire it before selling your current home, by all means move forward. Current conditions should make for a rapid sale if your home is priced right.

Sell - Buy

Like most buyers, you may need to sell before buying. Right now, contingency offers are not viable. To be in the best position, you need to be ready to go. In this case, you can make the sale of your house conditioned upon your ability to get under contract on a replacement property within 10 days or so. In the current market, buyers are generally willing to give a seller 10 days to get a replacement property under contract. With your Realtor, get to know the frequency with which homes that meet your criteria appear for sale, and keep this time frame in mind going forward.

Sell - Rent - Buy

Sometimes the right replacement home doesn't appear in time - and moreover you may want to be in a non-pressured buying position. In this case, sell your current home, find a good rental, and enjoy your position as a buyer who is ready but under no time constraints. The right home at the right price is on the horizon.

Read my April 2013 e-newsletter.

Market Update: Inventory Dives

The current inventory of properties on the market remains very low, creating a high sense of urgency for buyers. Multiple offers are occuring frequently. This is the case all over Boulder County and the lower the price range, the hotter the market.

Currently, more than 50% of the houses in Boulder County priced at or below median range are under contract. In the City of Boulder, 72% of the houses priced at or below the median are under contract.

The market is improving at the higher ranges too - 42% of Boulder County houses priced above the median are under contract. This is a significant percentage; the average number at any given point during the year is usually around 30% - even in the summer months. The shortage of inventory is resulting in an improvement in the townhome/condo market as well. In the City of Boulder, 50% of townhomes/condos are under contract regardless of price range. 

Read my MARCH 2013 e-newsletter.

It's a Great Time to be a Seller

We have officially entered fall, but Buyers are still out in force. It's a smart time to list.

At RE/MAX of Boulder, closed sales were up 21% in September 2012 over September 2011, and new contracts written were up 29%. The number of showings has doubled over this time last year and inventory of available homes on the market is down 24%.  

If you would like to sell, but are concerned that you will have to wait until after the holidays to find a buyer, my advice is to take advantage of current conditions and go on the market now.  Questions or ideas about how to make these market conditions work for you?  Call me anytime.

Read my October 2012 e-newsletter.