What’s the Best Month to Sell Your Home?

What’s the Best Month to Sell Your Home?

Every week at RE/MAX of Cherry Creek, we have sales meeting in which there is an open discussion of market conditions and trends.  It’s a great opportunity to find out what’s happening in different parts of the market, share leads, and solve common problems.

Yesterday there was quite a bit of discussion (and anxiety) about how dramatically the market had “slowed down” this summer. Seems to me this has been apparent for a couple of months already, but some brokers were just getting their heads around it and not liking it so much.

One of our most successful brokers was reassuring:  she said, “Don’t worry. July is traditionally slow, and things always pick back up in August.”
Really? I always thought 1) August was the slower summer month, and 2) Sep – Nov is the next best time of year.  So I decided to look at some recent data.

Two of the best years for number of sales and volume have been 2006 (before the crash) and 2012 (the recovery/mini-bubble). Instead of using Sold data, which represents closings that may have taken 30-60 days in escrow, I used “under contract” data. This is recorded immediately after the Seller and Buyer sign a contract and gives a good indication of actual sales pace and volume for a given period. So here is a monthly comparison between those two years:

Summer sales Denver

Denver sales (under contract) during summer months

So there is a very small uptick in August, but IMO nothing to write home about. If you look at the actual numbers for 2012 (the red line), the trend is generally down in August, with another uptick in Sept/Oct.

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