Best Time To Be A Seller & Buyer in 2020
So 2020 has been crazy. We all know that. In terms of real estate though, it has been very different than our typical seasonal trends but remains a very strong market. My statistical genius Megan Aller, who literally analyzes the market data every single week and produces hundreds of graphs with more information than anyone knows what to do with, put this MAGICAL spreadsheet together.
Don't let it overwhelm you at first glance though, that's why I'm here to help! In a nutshell, it analyzes 21 different metrics for each of the weeks in 2020 and then deciphers whether the metric leans towards buyer opportunity (red) or seller opportunity (blue). Since I absolutely LOVE numbers and data, this information excites me and aids in understanding more about our real estate market! So, in looking at all of these metrics, what has been the best time to buy & sell in 2020? Follow me below the spreadsheet and I will highlight the details!
- Best Buyer Opportunity: As I previously mentioned, the color Red represents the best buyer opportunity so you can visually see the biggest chunk of red about 1/3 of the way down the picture, which to no surprise was at the beginning of covid from about mid-March to mid-May. This was also during the time when home showings were either not allowed or not as easy to do. However, as you can see, seller opportunity bounced right back shortly after that.
- Best Seller Opportunity: We are continuing to have a very strong seller market since late-May BUT the very best time has actually been these last few weeks! With the low inventory, low interest rates, and significant buyer demand, there hasn't been a better time to be a seller than right now in our Denver Metro area!
I also have these metrics for each zip code so if you are curious how your specific area has fared with the overall trends, shoot me a message and I will provide the information! :)