Top Summer Selling Tips for
Denver Home Sellers

May 23, 2024

It’s almost hard to believe that May is nearly behind us and that it’s officially the summer of 2024. In case you don’t believe me, just look at all the seniors’ vehicles near any high school, and you’ll find the famous end-of-year graduation chalk all over their windows! Seniors graduating isn’t the only event that the summer marks; it also marks homeowners turning into home sellers as we see increased inventory and the selling season officially kicking off across Denver. With it officially the selling season in Denver’s real estate market, what are the top tips for sellers to keep in mind during the summer of 2024?

1. Interest Rates Are Still High

If you’ve been following our Denver Market Update blogs each month, it’s no surprise to you that interest rates are still high and affecting the overall market conditions. Buyers are still dealing with interest rates in the high 6% to low 7% range. This makes housing affordability difficult for most homebuyers using a mortgage to purchase a home. Due to this, many buyers are still sitting on the sidelines waiting for the rates to come down, meaning there are fewer buyers for homes than previous years.

2. This Isn’t 2021: Pricing Your Home Matters

Due to the lower number of homebuyers in the market, pricing your home in the summer of 2024 might be more important than ever. It’s likely that buyers have more choices now than they have had in the last 3-5 years. This allows them to take their time to compare a home’s value, and one of the biggest determining factors of a home’s value is the list price. If a home is priced too high, buyers will simply ignore it and tour the nearby home priced correctly. However, Denver is still a very in demand market, and if a home is priced correctly, it isn’t unrealistic to see a home sell for above list price with multiple offers. Pricing your home will be a big factor when selling your home this summer.

3. Buyers Aren’t Buying Homes As-Is, Where-Is

If you sold a home before the second half of 2022, you were spoiled with likely being able to sell your house as-is, where-is, meaning you didn’t usually have to do any repairs or maintenance items to sell the home. However, now that buyers have more choices, they don’t have to accept the house as-is, where-is. With today’s softer market, buyers are able to easily ask for more as well as bigger ticket items during inspection. A great way to address this is to do some of these maintenance items and upgrades prior to listing. Not only do you get more control over how the work is done, it will also likely result in a higher sales price and quicker sale.

4. You’re Just Under Contract: Don’t Cash the Check Before Closing

Once again, since buyers have more choices and do not have to purchase homes as-is, where-is, many choose to simply terminate on inspection if there are surprises during the inspection versus trying to work with the sellers to fix the issues. Contract terminations are not uncommon right now, and it’s not surprising to see a home go back on the market 1-2 times before finally closing. As a Denver home seller in 2024, it’ll be important not to spend the proceeds from selling your home until they are safely and securely in your bank account after a successful closing.

5. Who You Work With Matters

This might be the best tip for home sellers in 2024: who you work with to help you sell your home matters. It’s important to work with a real estate professional that understands the complex Denver market. Your agent must know how to price your home correctly to generate the highest amount of buzz and excitement to net the highest sales price and what to do before listing your home in regards to staging, repairs, and upgrades to ensure that you get to the closing table once you attract the right buyer.

Many agents took shortcuts back when Denver’s real estate market was extremely hot and competitive, but not TK Homes. TK Homes has always treated every market the same and provided a full-service selling system to sellers. This means that we’re not trying to learn how to properly market a Denver home in today’s market. We’ve already perfected our marketing systems to ensure that our home sellers are getting the highest possible price for their home when it’s time to sell. Contact a TK Homes agent today and see how TK Homes can get your home sold this summer. TK Homes is the key to your real estate goals.

~ Written by TK Homes CEO/REALTOR®, Trevor Kohlhepp