Selling your home fast in Colorado

If you’re considering selling your home in Colorado, you’re in luck! The median sale price for single-family homes in April 2023 was $565,000, nearly $190,000 higher than the national median. While homes are spending more time on the market compared to last year, it’s still a seller’s market with high demand and low inventory. In this blog post, we’ll provide you with valuable tips on how to sell your Colorado home fast.

How Fast Can You Sell Your Colorado Home?

Despite homes staying on the market longer, Colorado remains a seller’s market with low inventory. In April 2023, there was just a 1.7-month supply of available homes, far below the 5 to 6 months considered balanced. However, the average time on the market increased to 47 days compared to 24 days in April 2022. Factors like location, condition, and price point also influence how long a home stays listed.

Need to Sell Faster? Consider These Options:

1. iBuyers: These companies offer instant cash offers for your home. While it provides speed, be aware that the offer may be lower than what you’d get through a traditional sale.
2. Cash Homebuyers: Local and national companies that buy houses for cash can also offer a quick sale. However, they often provide lower purchase prices.
3. Selling As-Is: This approach involves listing your property without engaging in negotiations for repairs. As-is sales tend to move faster than typical transactions.

Preparing to Sell Your Colorado Home

1. Upgrades: Major renovations may not yield a full return on investment. Focus on cost-effective improvements that enhance your home’s appeal.
2. Repairs: Address obvious issues that could deter potential buyers. Consult with your real estate agent to determine what’s worth fixing.
3. Home Staging: Professional staging can make a significant difference in creating a positive first impression. Discuss with your agent whether staging is worthwhile for your property.
4. Timing and Pricing: Historically, the best time to list a home in Colorado is during spring and early summer. Work with your agent to set an appropriate listing price based on recent comps and a comparative market analysis.
5. Disclosures: Complete the state’s seller disclosure form and green disclosure form, if applicable. Be transparent about any past issues or defects.

What to Expect at Closing

Consider closing costs, including the commission paid to real estate agents, which typically totals about 6 percent of the sale price. Additional costs may include title insurance, real estate transfer tax, escrow fees, concessions, and attorney fees (though not mandatory in Colorado).

Next Steps

Decide whether you prefer a traditional sale or working with an iBuyer or homebuying company. For a traditional sale, start by finding a reputable agent with expertise in your specific area. With their guidance, you can develop a pricing and marketing strategy to ensure your home sells quickly and at the best price.

Conclusion

Selling your Colorado home in 2023 offers the potential for substantial profits, even if homes are spending more time on the market. By following these tips and considering the various options available, you can navigate the market successfully and achieve a swift and profitable sale. Good luck!