What Season is Best for Selling Your Home in Albuquerque

If you're looking to sell your Albuquerque home, it's important to know when the best time is to do so. Each season has its benefits and drawbacks, so it's important to consider them before deciding. This blog post will discuss what season is best for selling your Albuquerque home and why. We'll also provide tips on preparing your home for sale no matter what season it is!

For single-family homes, the median listing price stayed relatively stable, with small increases from November 2017 through December 2019. From January 2020 through August 2020, there was a steep upward trend in the median list price per month, rising from $295,000 to $372,655. There was a major spike in October 2020 to $435,000, after which the price stayed in the $339,000 to $385,000 median listing range through June 2021. There was another major spike in July through December 2021, which saw the highest median listing prices in the past five years, ranging from $488,000 to $512,065. The median dropped to the $335,000 to $360,000 range from March through October 2022. In looking at the historic trends, the listing prices tend to increase from winter through August, so if you plan to list high, summer is the best time to do so.

Regarding the number of Albuquerque homes for sale per month, there has traditionally been a decrease in listings from November through March annually. If you want the least competition against other listings, offering your home in the late fall and winter may be the right choice for your property. There was a general downward trend in homes for sale from September 2018 through November 2021, but there was a sharp increase from the five-year low of 83 in October 2020 to 1694 offered for sale in July 2022. While the number of listings has not reached the peak seen from June to September 2018, when the number of listings per month neared 2000, it is still significantly higher than in the past few years.

 

For condos and townhomes, the median list price had a general upward trend from November 2017 through July 2021, rising from $169,950 to $311,990. The median stayed in the $308,416-$321,490 range from July 2021 through January 2022. The median then dropped significantly to a low of $222,000 in March 2022, before slowly starting to climb to $250,000 through September 2022. The median had another minor drop to $242,000 in October 2022, but looking at the historic trends, the upward median listing price tends to return by February annually.

As for the number of homes for sale per month, the most available in the past five years was 259 in August 2018. The number had a downward trend through January 2022, falling as low as 17 in October 2020 and 21 in January 2022. The number increased sharply in March 2022 to 156 and rose as high as 198 in May 2022 before falling for several months to 153 in September 2022. The number increased again in October 2022 to 213. In looking across the five years of trends, there is usually an uptick in the number of listings between February and August.

Based on the condo and townhome trends, if you want to list your home for a higher price, plan to place your property on the market between February and July. However, since these are the months when the number of listings tends to increase, you will have more competition. That said, the market for condos and townhomes continues to favor sellers, with fewer properties available than can meet demand.

When deciding when to list your Albuquerque home, it's important to consider the season and its effects on the sale. Albuquerque has a temperate climate with hot summers and mild winters, which could make summer and winter less ideal for selling due to high temperatures or short days. Spring and fall are the best time to sell a house, as the weather will be moderate enough to draw potential buyers outside. Property located near parks or other outdoor recreational areas may see an increase in demand during these milder seasons.

To help your home sell in any season, be sure to highlight local events in your listing that make the area a great place to call home. Albuquerque, New Mexico, is a lively place to be year-round, but things really come alive throughout the different seasons with a whole host of unique events! The Renaissance Faire is the perfect event to take you right back in time, with colorful pageantry, amazing food vendors, and activities for all ages. If live music and fun outdoor activities are more your thing, then look no further than the Summerfest Series; here, you can listen to some great bands and take part in activities such as rock climbing walls or blow-up games. Finally, Albuquerque really knows how to get into the holiday spirit, too, thanks to the Twinkle Light Parade, which takes place every December. Not only is the parade a fun community event where entries are judged on categories like holiday spirit, wow factor, and, of course, "twinkliness," but there's also the opportunity to shop local and for the kids to enjoy the joyous presence of Old Saint Nick himself! There's a diverse array of festivities that, once experienced, make Albuquerque one of the most sought-after cities in America. So whether it's during summertime or wintertime, buyers are sure to find something spectacular going on! And since each event varies from year to year, there's always something new to discover and explore - making annual attendance a fun family tradition, which is another great way to appeal to buyers.

Preparing your Albuquerque home for sale can be an intimidating process. After all, you want to make sure your property stands out from competing listings, so it's important to understand the steps needed to get the best return on investment.

A great place to start is by having your home professionally inspected to identify any major repair needs. While you're taking care of those repairs, don't forget to address cleaning, decluttering, and other necessary touch-ups like painting and updating hardware in the kitchen and bathrooms.

Improvements such as adding fresh landscaping or new fixture pieces can also help make a successful impression on potential buyers. And, of course, staging should always be part of the equation – showcasing furniture and decor that will add personality to each room and attract more attention from buyers.

To maximize your returns when selling your Albuquerque home, hire a knowledgeable agent like Anita Mora with proven success in the market with similar listings. With these preparation steps checked off your list, you'll have peace of mind knowing you did everything in your power to show off the beauty and charm of your Albuquerque property.

By understanding the historic trends for median listing prices and the number of homes available per month, you can make an informed decision about when to list your home. For the least competition with other listings, listing in the late fall and winter is your best choice, but if you want to list for a high price, aim to do so between February and August. When you are ready to put your home up for sale, reach out to experienced agent Anita Mora for more information about how we can help get you the best price possible.