Interest rates have been on the rise for a few years now and have done little to slow the market in the Denver area. In general, experts are expecting a slight slow down in the market as interest rates continue to rise. Some experts even expect interest rates to rise about 5% in 2019. So what does this mean for you?
As a home seller, you’re still in better shape than many home buyers will be as they try to find their first home. However, you will notice increased competition in the market and slightly longer time on the market. You may find yourself needing to set a more competitive price to attract buyers faster.
You will also need to put more effort into finishing and staging your home. As the market slows down a bit there will be an increase in the amount of inventory. This gives buyers more options and means they can be more picky, especially if they’re already spending more money with higher interest rates.
As we discussed last month, Denver area home prices are predicted to increase by less than they have over the past several years, potentially coming to a plateau by the end of the year. This means that if you are wanting to sell, now is the time. Selling in 2019 will likely help you increase your bottom line and walk away happy.
Real estate markets are impossible to predict and even experts can only make informed guesses. If you’re wanting to sell, let’s make it happen. Contact us today to schedule a listing appointment. We’ll walk you through the market, pull comps and see if now is the best time for you to sell.
When you’re ready to move into your next steps, we’ll advise you on home staging and help you get the best sale price possible.