Regular readers of this blog will know that we maintain a very keen eye on real estate market statistics for the Albuquerque area.
When we looked in detail at the figures for December earlier this month, we noted that closed sales were actually up on October and November. This stat becomes even more remarkable when you consider that October had higher pending sales levels than September and, even more incredibly, the peak month of July! And there was no slump in those months either!
So much, then, for those who would have it that the holidays aren't a good time to list a home!
But if we analyze what's really happening here, perhaps it all suggests something that we've seen more and more of in recent years that, while peak seasons still happen, there's arguably a more even spread of sales activity over the full 12 months.
Low mortgage rates have of course had a key influence here, as buyers have acted fast to lock in low percentages, irrespective of the time of year. That doesn't so easily explain what happened in December, however, after there had been a long overdue correction to rate levels, following the post-election stock market rally.
Could it also be, we wonder, that the combined efforts of agents like ourselves to promote the simple fact that there isn't a bad time of year to sell a home in the current market conditions is actually gaining traction among purchasers?
It can also be successfully argued that increasingly sophisticated online marketing tools, such as this website, significantly contribute to motivating "out of season" purchases.
Of course it's not easy to pinpoint precise reasons for this very noticeable trend, however who can deny that it's a more than welcome one!
As we pointed out in another recent blog, there's no wisdom in simply waiting for the spring when all the indications are that we've started 2017 off in fine style. And never forget that there's a shortage of available properties for sale across the board, so why wait for more competition to arrive and put more pressure on your asking price?
Like any modern business, real estate is in a constant state of evolution and it certainly seems that the Albuquerque area is changing to a more consistent year round market. What a fantastic opportunity!
Why not call us today to discuss an early market entry strategy.