Real Estate Statistics Southwest side of Town

So its December, nobody wants to look for a house during the holidays right? Wrong, placing your home up for sale in a traditionally slow time for Albuquerque Real Estate has an advantage, fewer homes for sale and less competition. Right now with the First Time Home Buyers tax credit of $8,000 and historically low interest rates, it may be one of the best opportunities to buy a home in years.

Lets take a look at the Southwest section of town where you can find alot of newer built homes with east access to Freeway, close to Petroglyphs National Park, country living in the South Valley along the Bosque and dynamic views of the Sandia Mountains. The Areas used for the example are Areas: 90,91,92,93 Bordered by Central Avenue to the north, The Rio Grande River, Bridge, and the I-25 freeway to the east, I-25 and the Isleta Indian Reservation to the south, and the West Mesa to the west.

Currently there are as of this writing today, 504 active listings for sale in this area, 116 homes are currently pending and 76 have closed in the last month. This means there is currently a 6 month supply of homes to be sold. Of those homes here is a breakdown of the actual price range:

0-100,000 = 44
100K-150K = 242
150K-200K = 162
200K-300K = 37
300K-500K = 23
500K-700K = 9

The lowest priced home is $49,000 and the highest priced home is $700,000.

Ok, but why then is December a good time to sell a home? Of those 76 homes that sold last month 62 were between 100K-200K, there are 396 homes to look at and the average home buyer looks at 12-25 homes before they decide to purchase. In most of the price ranges, chances are they will look at your house, between 100K-200K maybe 1 in 6 will look at your home. But compare that to February, March, and April when more homes are on the market, can be almost 40% higher, the chances of your home being seen are slimmer with so many homes to choose from.

Well ok, I understand all the home selling stuff and yes December looks like a good time to put my home up for sale but I am a home Buyer how does that help me?

You have the time to shop for a home, calculate if the monthly payment is right for you, pre-qualify for a mortgage, spend all day calling William to send you more information on properties, and scheduling appointments to see them. You have historically low interest rates around 4.7-5%, a first time home buyers tax credit of $8,000 or a home buyers credit of $6,500 if you decide to move into another, larger or similar home and have lived in your current home for 5 years. A professional Full Time Realtor who will walk you through ever step of the process, from paperwork, home inspections, title companies, and moving services.

And most of all? Peace of mind, that you made the right choice to buy a home!