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The market is doing great right now. Here’s why so many people are considering making a move in 2018.
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There are a lot of great things going to be happening in Albuquerque in 2018. Here are five good reasons to consider buying or selling in today’s market:
1. Inventory is at an all-time low. This is the lowest level of inventory that we’ve had in the last decade. Almost every neighborhood is in a seller’s market and some neighborhoods barely have any inventory at all. If you want to know what inventory levels are like in your specific area, don’t hesitate to reach out.
2. Most sales since 2006. The 13,000 real estate transactions that we saw in the market last year are the most we’ve seen since 2006 and the second-most home sales in the history of Albuquerque.
3. Highest average sale price since 2006. Not only is there a higher probability that your home will sell, but there is also a high probability that it will sell for the most amount of money possible.
Rates are still extremely low when compared to the past.
4. Interest rates are still historically low. We’re seeing some slight movement upwards, but rates are still extremely low when compared to 30, 20, or even 10 years ago. If you are curious about what kind of rate you could see, let us know and we’ll get you in touch with our preferred lender.
5. Average days on market. Homes are now selling in less than 50 days on average. Transactions happen a lot faster in today’s market than they ever have before.
We are very optimistic about the Albuquerque real estate market in 2018. If you have any questions for us in the meantime, don’t hesitate to give us a call or send us an email. We look forward to hearing from you.