Denver | November | Top Ten Talking Points
1. Now is the time to make sure you are strategic, for both buyers and sellers.
2. Buyers - you have the chance to negotiate, get inspection items covered, and to get sellers to contribute a rate buy down, especially on the non-beauty pageant homes.
3. Listings are staying stable with plenty of options for buyers in the $2M-$3M range. This is one of the biggest move-up opportunities we have seen.
4. There were 850 new listings last week, down -4.2% compared to the previous week.
5. Sellers - make sure you are very strategic when listing right now. The buyers are there if you prep your house properly.
6. We are not seeing a huge drop in pricing. However, buyers are able to negotiate significant seller credits to buy their rate down to a comfortable level.
7. The Odds of Selling in the next 30 days remained steady at 42.7% for listings made in the past week. Although this number is startling to some, it reinforces the need to have a phenomenal agent on your team who has played in this arena before.
8. Sellers should anticipate 1.5 showings per week. If you are getting more than that, you are an outlier and are doing a great job looking “pretty” online.
9. If you have had 15 showings and no offer, it is time to consider a price improvement or repositioning in the market.
10. Sellers, if you are going to price drop, buyers are looking for reductions of 5-7%. The tip-toe method does not work.
SOURCE: our friends at First American Title
