The housing market is shifting this season, which may have you wondering if it’s a good time to sell. Winter is known to be one of the better times to be in the real estate market. So, if you’re considering making your first move by selling this season, consider asking yourself these questions:
Should I wait?
The supply of homes on the market has increased over the course of the year, but we are still seeing low inventory overall. Meaning, even though buyers may have more negotiating power, we’re still considered a “seller’s market”.
Are there buyers in the market?
With current interest rates, you may be concerned that buyers are deterred from being in the market. However, there are still plenty of buyers who are ready and eager to make a purchase. While demand has eased, rates are still low and it is well known that there is equity in homeownership. Millennials are especially prevalent in today’s market.
Can I afford to buy another home?
Once you sell your home, you’ll be ready to purchase another. So, can you afford your next purchase? There may actually be equity in your home to help you put money down on another purchase. According to Keeping Current Matters, “Homeowners have gained significant equity over the past few years and that equity can make a big difference in the affordability equation, especially with mortgage rates higher now than they were last year.”
If you’re interested at all in selling your home, it may be worth it to at least understand what your home is worth and what’s out on the market! Our team at Corken + Company is happy to provide you with a complimentary CMA to understand how much your home is worth. Call us today at 303-858-8003 for all of your Colorado real estate needs.