In our blog earlier this week, we looked at the very rosy latest set of statistics just published for the Albuquerque area by the Greater Albuquerque Association of REALTORS® (GAAR).
If you missed the article, please click here, especially if you're considering selling your home, as it makes for very good reading.
We don't need to go over the figures in detail again today. Suffice it to say, then, that December saw excellent year on year market growth in terms of both the numbers of sales and mean/average sales prices. This came as the much publicized hike in mortgage rates became a factor, but clearly not one that has been off putting to Albuquerque area homebuyers.
We thus find ourselves approaching the mid-point in January with a market in fine health and some very bright predictions for another successful year by GAAR's president.
It all begs the question that, if you're looking to sell your home, what are you waiting for?
Despite the real estate industry's best attempts to advise them otherwise, a lot of sellers will be assuming that there's no current rush to list their property, as there's plenty of time until business picks up in the Spring.
This is where the importance of keeping close to market trends and statistics is such an advantage. Regular readers of this blog, for example, will already know that our local market has enjoyed an exceptionally strong fall and winter to date.
The subtext here is that buyers are very much in the mood to make purchasing decisions so early in the year, perhaps mindful that mortgage rates may still rise a bit more, following the market correction that's taken place since the stock market rally that's been ongoing since November's election.
Low inventory of available homes is a major factor at the moment, exacerbated by the seasonal tendency of some sellers to withdraw from the market over the holiday period, relisting as the spring approacheS.
Right now, therefore, is a fantastic time to capitalize on the very high levels of buyer sentiment out there at present and to beat most returning and new sellers, who are likely to wait a while longer, mistakenly assuming that very few are buying at this time. They couldn't be more wrong and you couldn't be more right in taking advantage of this misconception.
Less competition means much greater opportunities for multiple viewing and, for the right property, the possibility of multiple offers that could even take the best offer above the actual asking price. At the very worst, as long as it's realistic, your asking price will be that much more robust when there are fewer sellers chasing buyers.
As an initial stage, why not reach out and contact us today to discuss the best options in your individual situation. You really have nothing to lose and, as we hope we've just shown, everything to gain!