If you are interested in buying or selling a house in Colorado Springs, you know that it is a big decision. One of the factors you need to consider is the state of the Colorado Springs housing market in 2023.
Why is the state of the Colorado Springs housing market important? The market will dictate every aspect of your purchase or sale, from how long the house may sit on the market to what price the home will sell for. It also affects the terms of the sale.
Knowing whether the Colorado Springs housing market is a buyer’s or seller’s market will help you make an informed decision about your real estate transaction. And, because the market fluctuates periodically, it’s important to have the most up-to-date information possible.
Here we explore the Colorado Springs housing market and let you know what you can expect in 2023.
What’s a Buyer’s Market Versus a Seller’s Market in the Colorado Springs Housing Market?
There are traditionally two types of markets: a buyer’s market and a seller’s market. You can think of the housing market as having a giant pendulum that swings from one extreme to another, with opposite results.
A buyer’s market is just as it sounds – a housing market that favors the homebuyer. This means that the supply of houses exceeds the demand and that homes sell more slowly and for less money than in a seller’s market. The homebuyer has the upper hand in negotiating price and terms in a buyer’s market.
A seller’s market, on the other hand, favors the home seller. Unlike in a buyer’s market, the supply of homes is less than the demand meaning that houses sell quickly and for more money than in a buyer’s market. In a seller’s market it is the home seller, and not the homebuyer, who has the advantage in negotiating price and terms.
Is Colorado Springs a Buyer’s Market or a Seller’s Market?
As of the end of 2022, Colorado Springs is a seller’s market. Going into the first quarter of 2023, the Colorado Springs housing market will continue to be a seller’s market.
As you know, a seller’s market favors the home seller but that doesn’t mean that a homebuyer can’t still get a great deal with favorable terms. As a homebuyer, you can get the help of an expert realtor to help your transaction be a success.
Home sellers can also benefit from an experienced realtor’s services, marketing their home to garner the most attention and the highest sale prices.
Regardless of the type of market you are buying or selling in, your friends at Your Home Sold Guaranteed Realty - Barb Has the Buyers Team have proven techniques that will get you the price and terms you deserve.
Buying or Selling a House in Colorado Springs
Whether you are buying or selling a house in Colorado Springs in 2023, we are here to help! Our team of expert real estate professionals can help you find the perfect home for the right price or help you market your home to drive homebuyers to your listing. Either way you need us, we have the expertise and intimate knowledge of the Colorado Springs housing market to ensure that your real estate transaction exceeds your expectations.
Get started today with a quick phone call to 719-301-1802 or simply fill out the form below. Our team is here to help guide you through the process and take the hassle out of buying or selling a home. Contact us today to embark on your real estate journey – and don’t forget to ask about our Buyer and Seller Guarantees! We look forward to giving you world-class services!
