We are seeing sellers become more aggressive in the price and terms they are placing on their homes. This makes for a perfect time to buy a home as there are fewer buyers really understanding how to create a buyer package sellers will pay for. If someone wants to buy now I have 3 Great Tips to get a Home.
1) Have the seller buy the interest rate down or prepay HOA dues to make the monthly payment better for a short terms period.
2) Negotiate a Price below market for those buyers paying cash or putting greater than 20% down.
3) Ask for improvements within the home the seller would be willing to pay for as part of the transaction. Each home has different needs, but asking for concessions of 5% won’t insult the seller.
In January, the median closed price of a Denver Metro area home was $575,000 which is 2% higher than last year. Closing prices decreased from October to January as sellers reduced their asking prices.
The number of listings that closed in January was 6% higher than this time last year and 29% lower than last month.
Days in MLS counts the number of days a listing was actively available in REcolorado’s MLS system before a contract was executed. In January, homes spent 47 days in the MLS, 10 days longer than last year at this time, and 6 days longer than last month.
Denver Metro home sellers added 4,340 new listings to the market, 27% more than last January, and 130% more than last month as prospective sellers focused on the holiday season.
Throughout the month, buyers executed contracts on 3,076 home listings. The number of listings pending sale in January was 1% higher than last January and 33% higher than last month.
