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Why Summer Home Sales are So Slow in Denver

While there’s certainly no magical day of the year that guarantees your home will sell, there are a few climate-based factors that come into play. According to recent statistics, summer home sales in Denver plummet, and homes spend far more time on the market in July, August, and September than any other time of the year.

summer home sales 300x197 Why Summer Home Sales are So Slow in DenverWhat the Statistics Say

There’s plenty of data available to show sales rates throughout the year based on individual time zones. When it comes to Mountain time, summer home sales take a nosedive in August and don’t really pick up again until December. Some statistics taken from 2015 MLS data prove this. In the months of July and August, homes are 50% and 55% less likely to sell when compared to average, respectively. Hundreds of real estate agents in the Mountain time zone agreed that these months are the worst months to put a home on the market.

Why Do Summer Home Sales Drop?

Per the research, there are a few different factors that lead to plummeting summer home sales. These include the following:

  • High temperatures. In July and August, it’s not uncommon for temperatures to soar past 100 degrees. What’s more, the heat lingers throughout September, and sometimes even into early October. When it’s this hot outside, people are less interested in attending showings and open houses, and they aren’t interested in moving.
  • Prices are higher. If you really take the time to study the numbers, homes tend to sell for significantly less during the winter months. This is true for not only Denver, but also for the rest of the country. People tend to avoid summer home sales because holding out until winter can save them tens of thousands of dollars and lessen their monthly mortgage rates.
  • There are more homes on the market. Summer home sales also plummet in Denver because there are simply more homes from which buyers can choose. Most sellers will perform some exterior renovations before listing, and this requires warm temperatures and nice weather. These sellers will wait until the work is complete to list, and that’s why you’ll find very few homes on the market in the winter when compared to summer. Because buyers have a larger selection, homes tend to stay on the market far longer.

The Perfect Time to List Your Home

According to statistics gathered over several years by the MLS, the best time to list a home in the Denver, Colorado area is early May. This will allow you to get your home listed early – before many other sellers – and at the precise time when shoppers start looking for their new homes. It’ll ensure you receive plenty of offers before July and August to avoid the summer home sales drop, and it’ll also help you get more out of your home since homes tend to sell for far less in December through late March.

Summer home sales in Denver are certainly slow. The temperature, the number of listings, and even the average prices all play a role in this. By listing your Denver-area home in early May, you’ll find the perfect balance – you can sell your home more quickly, and for a better price.

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