As the Pikes Peak area summer home selling season starts to heat up, you may be thinking about selling your Colorado Springs home; but before you do that, there are several factors to consider. Selling your home during the Colorado Springs summer months will definitely attract more potential buyers, since most families with children try to move before school starts.  However, there are also a lot more homes on the Colorado Springs market this time of year, and many of them are foreclosures and short sales.  All of these factors can affect your home's selling price.  Before you decide on a price for your home, you will need to take a closer look at the real estate sales and available inventory within your immediate Colorado Springs neighborhood.

Short sales occur when the seller owes more to their mortgage company than the current value of the home.   They are motivated to get out of their home quickly because of high mortgage payments and negative equity.  As a result, short sales are priced very competitively and can bring down the average selling price of surrounding homes.  While many Colorado Springs short sales are not in tip-top shape, home buyers can usually justify the cost of improvements if the home is priced below the market value of similar neighborhood homes.

Selling your Pikes Peak home may require a little research, but most of this can be done by a Colorado Spring real estate agent, who can review recent market comps for the area surrounding your home.  If homes in your neighborhood are still fetching decent prices, and there aren’t too many foreclosures or short sales, then now is probably the right time to sell.  However, if your realtor finds too much competition from distressed properties, it may be better to wait a few more months.

Even if you choose not to sell your home in Colorado Springs quite yet, you should use this time to make your home look as attractive as possible.  Buyers may be willing to pay a little more for your well-kept home and save themselves the trouble of fixing up a distressed property, but you must be careful not to price your home too much higher than comparable short sales and bank-owned homes.