At Colorado Group Realty we are often asked the million dollar question: when is the best time to buy or sell? While there is no definitive answer, we can share some statistics to offer a little guidance. 

According to a recent national report by CNBC, the best time to list a home for sale is in May. Spring has always been perceived as the golden season for real estate sales but in Steamboat Springs that does not necessarily ring true. 

If we analyze the last three years, summer and fall have produced the largest number of residential transactions. In 2018, August (84 sales) and October (84 sales) were the strongest months. February (36 sales) was the slowest month followed by December (43 sales). In 2017, February (38 sales) and December (44 sales) were the slowest months and August (98 sales) and September (99 sales) proved to be the strongest. In 2016, June (81 sales) and September (96 sales) were leading months and February (37 sales) and March (30 sales) were the weakest. These sales figures represent when the transaction closed, not when the property was listed or went under contract. 

Typically winter is slower with fewer homes listed and less active buyers as people are preoccupied with the holidays and reluctant to move in colder weather. This can lead to an advantage for buyers, as sellers who need a quick sale may be inclined to accept a lower offer. 

In Steamboat, demand currently outweighs supply in the under $1M single-family home market giving sellers an advantage. We advise buyers to work from a clearly defined budget and obtain a pre-approval letter from their lender, if applicable, in order to be at an advantage.