Colorado Springs Realtor - Cherise's Blog: Why It’s a Seller’s Market…Or is It?

Why It’s a Seller’s Market…Or is It?

A general label does not always apply to every circumstance. So, we should not be surprised if labeling a financial market as strictly bullish or bearish or a real estate market as a buyer’s or seller’s market does not apply to the entirety of the Colorado Springs Real Estate market.

Nonetheless, the tide has certainly turned from being a recessed market, in which buyers were determining the actual sales prices by making savvy purchases at some great bargain prices, to a Seller’s market. 

Nowadays, especially in the price ranges under $400,000, the inventory is very low, thus the Seller’s are determining the pricing on listings by holding steadfast to their asking prices.  And to boot, many Sellers are getting what they are asking within very short time frames, especially if they have properly maintained and staged their homes appropriately.

This trend of shortened time frames for contracts, closings and multiple bids is also gaining momentum into the higher price ranges as well.  I’ve personally noticed that more buyers are inquiring about the higher price ranges these days.

Yet, I do not want to give the wrong impression about the Colorado Springs Real Estate market as being a Seller’s market exclusively.  Many, many contracts still have heavy buyer demands in which the Seller is expected to pay closing costs.  As for other Seller situations, some might not be taking the sizeable hits like they did in the last few years, but several are still taking some financial whacks to get their homes sold in this window of opportunity.

But for the most part when appraising the market, and as for the future, the potential of inflation will simply drive the real estate market into high gear.  Is it a Seller’s market?  Simply put, yes it is as we are still in the recovery process, so each situation is still either Buyer’s or Seller’s.

Feel free to contact our group at Selley Group Real Estate, LLC:  2139 Chuckwagon Rd, Ste 210 - Colorado Springs, Colorado 80919 - 719. 598. 5101

All agents affiliated with Selley Group Real Estate, LLC are actively licensed in accordance to the laws of Colorado.

Portions of this article are written by Gordon, as framed by the expressed opinions of Cherise, but not proofread.

Comment balloon 5 commentsCherise Selley • May 23 2013 10:28AM

Comments

Gordon and Cherise,

Wise words indeed...I think sometimes all the talk about being "a seller's market" gets misinterpreted by sellers who all of a sudden want to raise their prices or get capricious about offers, hoping they get into overbid.  etc.  A

Posted by Ron and Alexandra Seigel, Luxury Real Estate Branding, Marketing & Strategy (Napa Consultants) over 6 years ago

Very good point that seller or neutral or buyers market DEPENDS. Location, type of property, buyer demand, PRICE and CONDITION. Excellent post. You can't paint a broad brush even in a local area.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) over 6 years ago

Great overview of the market in your area.  We are experiencing similar trends here but the price level of demand is more from the $300,000 and under and if you have a home in the low $200,000 and under range it is white hot!  Inventory levels in the more affordable ranges are at historic lows with less than a 2 month supply.  If the home is in the upper $100s and lower there is less than one month supply.  The obstacle we are experiencing is not the buyers offering at or above list but getting appraisers to realize the 7 to 8% appreciation in the lower price range.  Historically that is an issue in a recovering market.  Appraiser reluctant to make appreciation adjustments to truly mirror the market demand and elevated values and underwriters of mortgage institutions rejecting that premise.  Its a wonderful yet frustrating time to be in real estate now.  All the best to you two.

Posted by Connie Goodrich, CRS ABR (McKinney Realtor)Texas (Keller Williams Realty) over 6 years ago

You are right Gordon, to understand market conditions you need to look at different segments of it. Seems like some areas are always hot while other are not!

Posted by Rich Cederberg, eXp Realty Agent Albuquerque (eXp Realty) over 6 years ago

Hey there, just checking up on some of the blogs i follow here at Activerain and realize you havent been blogging in some time.  Just checking in to see if you are still around, if not I may unfollow you as I clean up my list.  Let me know.

Posted by Robert May, Real estate consulting (Robert W May - Lethbridge Real Estate) over 3 years ago

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