With rising prices in the real estate market, it may be a good time to think about selling and putting away a profit on your current home. But, as with any major life decisions, you should weigh the benefits and drawbacks. Tandem Real Estate is here to help you make that decision.
According to Realtor.com: In January 2022, the median listing home price in Colorado Springs, CO was $425K, trending up 16.6% year-over-year. The median listing home price per square foot was $204. The median home sold price was $448.3K.
These numbers mean an almost guaranteed profit gain for sellers, but you need to make the right decision for you and your family's needs.
Ask yourself:
Do you need to move? Maybe you want to explore a new neighborhood or a new city all together? Maybe a job requires you to remain where you are, or a move could mean a potential promotion.
How do you feel about current and future interest rates? Interest rates can be hard to predict exactly, but the current climate shows that although they are on the rise, they are expected to remain fairly low. Are you willing to take the chance that you may have a slightly higher interest rate when buying your next home? Or are you confident it will not be a huge difference?
Are you ready to take advantage of buyer demand? With houses barely making it to market, and being sold quickly, you need to be prepared for a quick closing if you're thinking about listing your home.
Are you worried about finding your next home? There's no doubt the real estate market is competitive for buyers, but you have other options. Are you willing to temporarily rent while you shop for your next home? Or, are you ready to make confident quick decisions to make an offer on a new home you love?
These questions are important to ask yourself if you are thinking of selling your home. In fact, Colorado's "real estate market in 2021 has been the second-most competitive in the U.S., with a Competitive Market Score that’s 34 percent greater than the national average."
If you are ready to sell your home in the Colorado Springs, Woodland Park, or surrounding southern Colorado areas, or if you have more questions and need an expert's advice, Tandem Real Estate is here to help!
Mike Fischer is Tandem Real Estate's owner, and a Certified Luxury Specialist and Senior Real Estate Specialist. His son, Ben Fischer is also a real estate specialist and ready to answer all your questions!
Send your questions to Mike & Ben here:
