Denver | December | Top Ten Talking Points
1. Currently, we are experiencing a slowdown with fewer new listings and an increase in expired and withdrawn listings
2. Active listings decreased last week and new listings are down nearly 18% week over week.
3. SELLERS: Make sure that your home is prepped and ready, as there is only one chance to make a first impression.
4. There were more properties that went under contract in October than July this year. SELLERS: The opportunity is there.
5. BUYERS: don’t let the rates scare you. Make sure you have a strategy in place to get a concession so that your payment can get more comfortable. Sellers are flexible.
6. On average, 50% of homes on market will experience a price reduction prior to going under contract.
7. Stair-stepping the price down will not work here. Make sure you have the right pricing strategy when listing to avoid being a withdrawn or expired listing.
8. If you have had more than 14 showings and still are not under contract, it is time reconsider your pricing strategy.
9. Last week averaged 1.3 shows per property. More than two showings per week means you’re doing something right!
10. SELLERS: Your buyer is out there, but every step of the process needs to be well-thought out. This isn’t the same market as last year.
SOURCE: our friends at First American Title
