If you are a resident of Summit County, it’s likely you’ve been hearing talk around town, or perhaps life has kept you busy and you’re only recently hearing the almost shocking real estate stats for Summit County, Colorado. With winter season rapidly approaching, you may be thinking you’ve missed out on the best time to sell and should wait until next spring. Give us a moment to refute those thoughts.
We are not seeing a curb on buyers desires to own a Summit County property. In fact, Breckenridge is 5th in the nation’s current real estate boom. Multiple-offer and over-asking-price scenarios are still occurring with desirable properties. More than ever before, we’ve got more buyers than we have properties to sell in Summit County.
While summer has traditionally been the busiest buying/selling season of the year, we all know that 2020 is anything but traditional. That aside, here are five reasons why you should list your Summit County property now.
Your next home purchase: If you know you want to stay in Summit County but not necessarily in the home you are in now, waiting may not be in your best interest. A growing family often requires an upgrade while a couple in retirement wants to downsize. Data shows the price you will pay for your next property is on the rise and available inventory will be even lower. About 80% of the land in Summit County is managed by the US Forest Service and BLM. The remaining 20% is privately owned but also includes land owned by Summit County and the Town of Breckenridge. The majority of subdivisions in Summit County are built out. In short, the property supply is going to continue to shrink.
A seller-friendly market: Maybe you are hoping to spend the holidays or part of the ski season in your current home so waiting feels like the best option. Consider taking advantage of your selling power to negotiate a delayed closing or extended occupancy. A potential buyer might be willing to compromise knowing they are locking in historically low mortgage rates and the home of their dreams at today’s price.
Less competition on the market: The lower the competition, the higher your selling price. This is especially true for properties that need updates or some remodeling.
More serious buyers, less lookie-loos: If you are living in your home full time, it’s not a fun or easy task to prepare for showings, especially if you have pets. Nor is it an easy decision to block a rental home for showings and lose rental income. Buyers shopping in winter or fall tend to be more serious, more qualified, and more motivated. Fewer showings but higher the odds for a sale per showing.
Winter is your home’s best season: Take advantage of the change in seasons if your home’s location or curb appeal is better in the winter months. Just one example would be a ski-in/ski-out condo having far more appeal in the winter than in the summer when the mostly-unoccupied complex might seem eerily quiet to some buyers.
At this time, showing restrictions are still in place. No more than two persons may accompany an agent into the home for a showing. Only the agent can touch doors, knobs, and switches and everyone is required to wear a mask. Hand sanitizer must be readily available.
Whether you want a pressure-free casual discussion about your selling options or want in-depth analytical data of the current market and your potential profit, any of our 18 Breckenridge Associates Real Estate agents can be entrusted with your best interest at heart.
When you list your property with a Breckenridge Associates agent, you are listing with the number one selling real estate office in Breckenridge and top 3 countywide. You are always invited to give us a call, email, or drop-in visit at Main Street office location.