Time to Sell!!!
Are you a homeowner, thinking about listing your house? It is the time to do it now. The market is responding and it is responding in a wonderful way here in the Summit County Mountains.
The first time in five years, asking price has hit a high. Nationwide as well as in our Colorado mountains sellers are seeing the price of their homes rebounding. Knowing that we are seeing interest rates going up from the all-time lows now is the time to list with Omni Real Estate.
With the increase of asking price there does come some contingencies. From last year inventories across the country have gone up by seven percent. With increased prices there is a lot more competition as well. This is another example of the market responding.
Coming off the lowest level of ‘for sale homes’ in a decade the Summit County selling market is coming alive. We are not out of the woods yet we are still on average 12 percent lower than pre-market crash.
Reasons for the inventory of ‘for sale homes’ is low have a few different contributing factors. Mainly millions of homeowners still owe more than what their homes are worth. Value of homes especially in the mountain regions are up around eleven percent. Other reasons inventory are down include: people are not willing to take less than what they ‘think’ their home is worth, not willing to take less than what they paid for their home, and many people really locked in a great low mortgage from 2011-2013.
In Summit County low inventory has allowed sellers to truly drive the price of homes. It is believed that with the lack of inventory and direct competition that sellers are becoming greedy with prices. We are seeing it this spring many more homes and condos are coming back on the market helping to even out the pricing equation.
Omni Real Estate will help with Comparative Market Analysis to ensure that our buyers and sellers are putting themselves into the best situation for success. We will not let our clients over list, our pay too much for a given listing. Please contact us with any questions or concerns concerning your home or the purchase of you Summit County Dream Home.