We have great news if you’re thinking about selling your Aspen home this fall: It may be the perfect time to sell quickly and at the right price. Here’s what you need to know.
Should You Sell Your Home in Aspen in Fall 2020?
If you’re like many people, you’ve been putting off selling your home because of the COVID-19 pandemic – and that’s perfectly fine. However, it’s time to revisit that idea now… because this fall might be the ideal time to put your house on the market. Some of the main reasons REALTORS® are advising clients to sell include:
- Higher-than-usual buyer demand
- Low home inventory
- Rising real estate prices
- Low mortgage interest rates
Here’s a closer look at each – and how it might impact your decision to sell this fall.
Reason #1 to Sell This Fall: There’s High Buyer Demand
Buyers are looking for homes right now. It’s as simple as that! Many people chose not to buy over the summer (largely due to the pandemic), but they still need to move – and those people, as well as people who are moving for work or buying vacation homes in Aspen, are on the lookout for great spaces. And right now, more people want to buy than sell, which leads us into the next reason you may want to think about listing your home.
Reason #2 to Sell This Fall: Inventory is Low
Many people who originally planned to sell their homes over the summer decided to wait – but they’re still waiting. The number of homes for sale typically drops off in the fall anyway, but with fewer people wanting to test the waters during the pandemic, it may be particularly low in your neighborhood or general area. Your best bet is to talk to a REALTOR® about what the market looks like, whether you’re in Aspen, Carbondale, Basalt, Snowmass or Woody Creek.
Reason #3 to Sell This Fall: Real Estate Prices Are Trending Up
When there are more buyers than sellers, the market takes a turn – and it works in sellers’ favor. Real estate is all about supply and demand, and when the supply is low, prices go up. That means your home may be worth more now than it was at the beginning of the year (and its value may go down once people become comfortable with selling again). The bottom line is that your home is worth as much as someone is willing to pay for it, and when there aren’t dozens of other, similar houses on the market, buyers are typically willing to pay more.
Related: 5 tips to minimize your risk if you’re moving during the pandemic
Reason #4 to Sell This Fall: Mortgage Interest Rates Are Still Low
Mortgage rates are, and have been, near record lows. In fact, over the summer, rates did hit a record low. In July 2020, Freddie Mac released a statement on how the average interest rate was just 3,07 percent for a 30-year fixed-rate mortgage. The good news for you – and for buyers who are looking – is that rates haven’t yet rebounded to their pre-pandemic level.
If you’re thinking about selling, it’s a great time to talk to a REALTOR who can give you the low-down on the market, how much your home is worth, and more.
Are You Selling or Buying a Home in Aspen?
If you’re ready to sell your home in Aspen, Woody Creek, Basalt, Carbondale or Snowmass, we may be able to help you.
Get in touch with us right now to find out how much your home is worth – and discover how we’ll be able to help you sell it quickly and for top dollar.
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