The Vail Valley Real Estate Sales Cycle – What’s Your Timing?
The Vail Valley’s real estate sales cycle is a bit unique compared to most major markets. While the national peak in activity occurs in the spring months, we tend to be more seasonal. As I write this, real estate inventory levels for the year will be at a high and a few weeks from now, so will our contract numbers. We mention this because whether you are in the market to buy or sell, your time horizon is critical.
For buyers it is a bit more straight-forward – inventory (and thus ample choice) are at a peak right now. This is a great time to look at property and purchase in advance of kids going back to school, the upcoming ski season and the 2015 Alpine World Ski Championships. Interest rates remain low and sellers who intend to move before the season are more motivated as the summer season changes to fall. Which brings us to sellers in this market. There is more competition on the market in terms of inventory and for buyers – and most are making purchasing decisions based on location, quality and most-importantly, price!
Very simply put, if you are currently on the market and your objective is to sell this season, then pricing your home TO THE MARKET is absolutely critical. Now is not the time to “test the market” or take a “we can always come down” approach. Properties that are moving are priced right. Don’t wait until the end of September to lower your price. You may get it to the right price but the majority of the buyers will be settled into new properties or gone until the ski season. A price reduction with no audience will yield a frustrating result. For more information about the market please contact us any time.