Best Time to Sell a House in Colorado
Colorado, known for its stunning landscapes and vibrant cities, attracts a diverse array of homebuyers. The high quality of life, strong job market, and year-round outdoor activities make Colorado a desirable place to live, driving consistent demand for housing. That said, recent shifts in the housing market may be suggesting an upcoming cool-off period for homes in the Centennial State. With this in mind, those who are interested in selling their Colorado property will need to take a strategic approach if they want to maximize their sale price and ensure a fast turnaround.
One element to consider is timing. When you put your home on the market can make a big difference in generating buyer interest. So, when is the best (and worst) time to sell a house in Colorado? In this guide, we take a look at various factors to answer that question.
Understanding the Colorado Housing Market
The Colorado housing market in 2023 and 2024 has been characterized by rising home prices and competitive conditions, especially in urban centers like Denver and Boulder. Data suggests that the median sales price for homes in Colorado is in a seller-favorable position, rising from $579,200 in April 2023 to $622,200 in April 2024 (reflecting a 7.4% year-over-year increase). Despite higher mortgage rates, the market remains strong due to limited inventory and high demand. But that could be changing, as more construction is resulting in more homes entering the market.
Seasonal changes can also impact home sales in Colorado. The market tends to heat up in spring and early summer when weather conditions are more favorable and the school year comes to a close. Winter months typically see a slowdown in buyer activity due to harsher weather and buyers focusing on their holiday celebrations.
Monthly Analysis of Home Sales
Home prices and market activity in Colorado vary significantly throughout the year. Here’s an overview of how these factors change month by month:
- January and February
These are the slowest months for home sales, with the fewest buyers and homes spending the greatest number of days on the market. The median sale price in January 2023 was the lowest of the entire year at $546,800, and February was only slightly better at $550,200. - March and April
The market starts to pick up in early spring. March 2023 saw active buyer interest, with median sale prices rising to around $562,200 and homes going under contract more quickly. By April, new listings increased and the market reached a median sale price of $579,200, with homes spending on average only 24 days on the market. - May and June
These are traditionally peak months for home sales in Colorado. In May 2023, the median sale price was $583,300, with homes selling quickly due to high buyer demand. June typically continues this trend, benefiting from favorable weather and the end of the school year. - July and August
The market remains strong through the rest of the summer, though in many past years it may have seen a slight decrease in activity compared to May and June. 2023, however, actually saw prices rise in these months, reaching a median sale price of $584,300 in July and $604,200 in August. - September and October
Continuing the trend of increasing home prices, fall 2023 saw even more growth as median sale prices reached 611,600 in September and peaked at $621,700 in October. That said, 2023 may be an anomaly, as early fall typically sees a slight cooling of the market. On the other hand, even when prices are falling, sales still remain healthy thanks to buyers looking to close deals before winter. - November and December
These months generally see the greatest decline in market activity. The holiday season and colder weather reduce the number of active buyers, leading to more days on the market and lower median sale prices compared to the rest of the year. November 2023 saw a major drop of, hitting $583,200, and December was only marginally better.
Best Months to Sell for Maximum Profit
Years worth of housing market data paint a fairly detailed picture of the best time to sell a house in Colorado. If you’re thinking about listing your home and you want to strike when the iron is hot, these are the times to prioritize:
- Late Spring
May and June are among the best months for selling a home in Colorado if you want to maximize your profit. During these months, buyer activity climbs due to favorable weather and the end of the school year, which gives families a chance to move without disrupting their children’s education. - Early Summer
July and August present excellent opportunities for sellers to achieve high sale prices. Buyers are eager to finalize purchases before the new school year begins, which keeps prices high. - Early Fall
Selling in early fall, particularly September and October, can also yield high sale prices. The market remains active as buyers rush to finalize their house hunting before the winter months. As previously stated, October 2023 saw a major uptick, though in most years fall represents a declining (though still healthy) market.
Quickest Selling Times: When to List
In addition to potentially netting you the biggest returns, May and June are the best months for selling a home quickly in Colorado. Many buyers want to settle into their new homes before summer vacations and the start of the new school year, and the warmer weather makes property viewing easier and more enjoyable. In May 2023, homes sold at a brisk pace, with many listings receiving offers within days of hitting the market. This trend continues into June, maintaining the momentum of quick sales and high demand.
Best Day of the Week to List Your Home
Listing your home on a Thursday is considered optimal in Colorado. This is because homes listed near the end of the week gain increased visibility as potential buyers plan their weekend showings. A Thursday listing allows your property to appear in online searches just before the weekend, making it fresh and appealing to buyers who schedule viewings for Saturday and Sunday. This strategic timing can lead to more showings and quicker offers, maximizing your chances of a fast sale.
Preparing to Sell
There’s more to a successful home sale than just timing. As you prepare to place your property on the market, consider the following tips:
-
- Find the Right Real Estate Agent
Before you ever officially list your home, you first need to connect with an experienced and knowledgeable home seller’s agent. These professional realtors can offer insights into local market trends, suggest the best times to sell, and help you with pricing and marketing strategies. - Set a Strategic Price
Work with your realtor to set a realistic and competitive listing price. Pricing too high can cause your home to languish on the market, while pricing too low might result in lost potential profit. A well-priced home is more likely to attract the kinds of serious buyers who are willing to do what it takes to finalize the sale (even if that means starting a bidding war). - Enhance Curb Appeal
A lot of buyers listen to their instincts when it comes to evaluating a property, and those instincts tend to dial in on the little things. A tidy yard, a fresh coat of paint, clean windows with open curtains, and more can all be the difference that catches a buyer’s eye. Click here to learn more about how you can boost your home’s curb appeal. - Stage Your Home
Help buyers see themselves happily living in your for-sale property by staging your home effectively. This includes decluttering, removing personal items, and arranging furniture to highlight the home’s best features. Professional staging can make a significant difference, particularly in a competitive market. Alternatively, DIY staging will save you some money and may still be an effective option. - Make Necessary Repairs
No one wants to spend hundreds of thousands of dollars on a fixer-upper. Make sure your home is in its best possible condition by prioritizing any major repairs that may need to be done. From there you can move on to the little fixes: leaky faucets, cracked tiles, peeling paint, etc. - Take care of Your Finances
Be aware of the costs associated with selling your home. Planning for these expenses can help you budget effectively and avoid surprises. Read about 4 Financial Considerations Before Selling Your House to learn more.
- Find the Right Real Estate Agent
- Take it Step by Step
Selling a home can be a daunting experience, but if you follow the right process it will go much more smoothly. Work closely with your realtor, as they can help guide you through each stage of the journey.
Worst Times to Sell a House in Colorado
Whether you want a good sale price, fewer days on the market, or (most likely) a little of both, there are certain times of the year that you should avoid. Here are the worst times to put your house on the market in Colorado:
- Late Winter Months
The cold and snowy weather in Colorado can deter buyers from house hunting. Additionally, many people are recovering from holiday expenses, which can reduce the number of active buyers. Homes listed during these months often stay on the market longer and may sell for lower prices. - Holiday Season
The focus on holiday activities and travel means fewer buyers are looking for homes during these months. This period typically sees reduced demand, and that results in more time on the market and less favorable sale prices. Homes listed in November and December generally attract fewer offers and might need to be priced lower to sell.
Sold.com Can Help You Sell Your House in Colorado
Navigating the Colorado housing market requires careful planning and strategic timing. Sold.com can walk you through the process. We offer personalized guidance to help you navigate the complexities of selling your home. Our platform connects you with top local agents backed by valuable market insights, and we have the tools to optimize your home sale. With Sold.com, you can jump into the Colorado housing market with total confidence.
Selling a house is a pain. We’re making it less painful. There are now several ways to buy or sell. We’ll help you understand your options as you sell your home so you can make an informed decision! Take the seller quiz to get started for free.
