Zach Chacon - EXP Realty

👀 A stat that we have expected to change is finally changing. 👀

“Days on Market” measures how long it takes for new listings to sell.

Over the last two years this stat plummeted to levels we have never seen before. 📉

In the height of the market frenzy a year ago, properties were taking 7 days or less to sell on average. 🔥

Now, with the market cooling, Days on Market is back into double-digits.

Northern Colorado is at 20 days, a 54% increase over last year. 📈

Metro Denver is at 12 days which is a 50% increase.📈

So you've made an offer on the house of your dreams - now what? Well, there are 3 common outcomes in this scenario.

🏠 If the seller rejects your offer...
Your real estate agent might be able to help you better understand why the offer didn't make the cut by relaying any relevant information from the listing agent. This can be a learning opportunity for the next time you're ready to make an offer on a house.

🏠 If the seller makes a counteroffer...
This indicates that your offer has piqued the seller's interest. Sellers will typically ask for a higher price, an adjustment to your contingencies, or modified closing dates. It is up to you whether you would like to accept the counteroffer or come up with a counteroffer of your own. This process can go back and forth between the seller and buyer until the two parties reach an agreement. 🤝

🏠 If the seller accepts...
Congratulations! 🎉 You're now under contract! As long as all contingencies are met, you can proceed with the closing process.