If you’re considering selling your home, you May want to do it next month.
By the numbers: Metro Denver homes listed in late May sold for nearly $17,000 more than during other times of the year, per a new Zillow analysis.
Why it matters: More cash means more buying power in the Mile High City’s ultra-tight market.
The big picture: May has long been the best month to list your house in the U.S. But in 2023, sellers made the highest profits in the first two weeks of June, a Zillow study shows.
- This shift is largely due to mortgage rates, which cooled slightly in June and brought some buyers off the sidelines.
Zoom in: “My No. 1 tip for home sellers is to stage their homes,” Alyson Wahl, a realtor with Keller Williams, tells us. Preparing a home like “it is a product and not the place they are living in” will ensure it sells “so much faster and usually for more money.”
- Whether you do some simple decluttering, or spend thousands on hiring a stager — it all “can be valuable,” she notes.
- Erick Ibarra, a broker at Guide Real Estate adds: “To maximize profits, remember to continue upkeep,” from a fresh coat of paint to HVAC maintenance. “Buyers prefer a home with upkeep compared to a home in need of repairs.”
The other side: Buyers, if you want to avoid peak pricing, consider shopping outside of the spring and summer months.
What’s next: Interest rate cuts aren’t expected anytime soon, but should they drop, Denver-area agents still don’t foresee much relief for buyers in the metro’s competitive market — where the median closing price of single-family homes sits near a whopping $600,000.
