“Summer is the right time to sell”
May, June, July and August are widely considered the best time of the year to buy and sell real estate in Denver.
This idea can be portrayed throughout the entire United States and most generally is rationalized by the school-year calendar.
During the summer, kids aren’t pressured into moving in the midst of the school year, while parents have more time decluttering their home for a sale and touring new neighborhoods for a new home for their family. Yet both of these support a misconception.
Why sell in the spring?
Even a quick glimpse of the data below shows that the general public has been duped. The truth is that spring time in the Denver-Metro area is the real “hot season” to buy and sell. There’s been an intriguing seasonal pattern since the turn of the recession — the market heats up at the beginning of each year, with February, March and April showing the highest level of traffic and transactions.
Perhaps the proverbial mud-season is to blame — Coloradans have a plethora of fun winter sports, bookended by the endless possibilities of summer in the mountains, leaving the spring as the best time to put exhilarating activity aside and focus on real estate.
As spring blooms into summer, heavy traffic dwindles a bit until the predicable slow down of September hits and schools return to session.
Yet, each time brokers get comfortable, be it in late September or a week before Christmas, we get a firm reminder that despite the apparent lull, in the grand-scheme of things our market remains one of the hottest in the city’s history.
Like clockwork, this has been the pendulum of Denver real estate machine since 2012.
The chart above says it all. In January of 2017, there were roughly 17.5 showings per listing, and this number increased steadily to about 21 showings/listing in April before dipping lower in May. In 2016, the numbers are even more staggering, with showings per active listing reaching 28 and 35.5 in March and April, respectively.