Go with the Flow: Front Range Housing Market

One of Libby’s secrets to buying your first home in Colorado

Like fishing, buying a home on the Front Range requires an understanding of the seasonal shifts in market activity, the weekly flow of the market, and strategies to win your offer. It’s like knowing the best flows to fish, the right time of day, and what to use.

You’ll need to understand that there are two cycles – both a yearly one and weekly one – when looking at homes. You need to be prepared and know what to expect for each cycle to be successful.

Go With The Flow

I can’t emphasize enough that you’ll be a more successful and less-stressed buyer if you know how to respond to the cyclical flow of the market.

I want you to understand why timing can affect how you go about looking for a home, and help you from feeling overwhelmed because you don’t understand the seasonal flow of the market. It can also help you stem disappointment. For example: if you start your search at the end of September, you might feel like there is not a lot to choose from (there isn’t). Or, if you start your search in April, you might feel like you’re facing competition from other buyers (you are).

The Weekly Inventory Cycle in Colorado

Homes tend to come on the market Thursday and Fridays. This gives buyers time to devote part of their weekend to their home search. This makes sense! That means you have to get organized Friday afternoon or evening to know what homes you are going to see Saturday and/or Sunday. (Your Friday nights will never be the same!)

While the market has changed recently, it does not mean that some homes don’t sell quickly. Homes that are priced well often still go under contract within a few days.

If you see a home you LOVE online, reach out and flag the listing so I can can reach out to the seller’s agent to see if you need to rush out to see it, or if you can take your time to see it on the weekend.

There are exceptions to this rule, but typically, this is how the weekly cycle of new listings works.

Keep in mind that the inventory of homes for sale changes weekly, and depending on the time of year it can be drastic. Once you decide to buy a home, you really need to be out there looking every weekend and have a strategy in place.

The annual inventory cycle in Colorado

Here’s a breakdown of what to expect during the year:

• Inventory (the number of homes on the market) has a yearly cycle that looks like a bell curve with the low periods in December, and January and the height of the inventory peaking April through June.
• Homes often follow the school calendar and tend to become available in April/May/June. Not as many homes come on the market at other times during the year.
• The overall market slows down in July and August but picks up again after Labor Day.

What does this mean for your home search?

Go with the flow! If you are starting your search in December, January, or August, be prepared that there won’t be as many homes to see. If you can be patient and wait it out until March, April, May or June, you’ll have more to choose from.

Don’t get frustrated or give up on your dream of buying if it’s simply timing that’s not on your side.

There are exceptions to every rule, so if you want to know what to expect for your own home search, get in touch and I’ll help you through it all.

Have questions about anything here? Contact me and let’s chat.