Deciding to sell your home is a big decision. What comes next can be surprisingly stressful and time-consuming, especially if you’ve never sold a home before. Figuring out a good marketing strategy before listing your home can help you better prepare for the selling process.
One of the easiest ways to get top dollar for your home and sell it quickly in New Mexico is by listing your home at the right time of year. Your local market likely fluctuates from season to season, so putting your home on the market when buyers are in the highest demand can help streamline and simplify the selling process.
You don’t have to know a lot about your local real estate market to figure out when the right time is to pull the trigger. This guide will walk you through the best time to put your New Mexico home on the market and provide additional helpful methods to help sell your home quickly and for the best price.
The Best Time to Sell in New Mexico
Last year, the New Mexico real estate market set historic records, with home sales surpassing national trends and continuing to boost the local economy. In 2019, New Mexico’s housing market is still hot and predicted to keep going strong, with home prices predicted to increase and continue selling at a high rate.
While the odds are in a seller’s favors in New Mexico, homeowners can further boost their final home selling prices by placing their home on the market at the right time of year. In the US, late spring is often considered the best time to put your home on the market, since buyers tend to be most active during these months.
In New Mexico, homes that are placed on the market in March or April tend to sell faster and for a higher value than homes sold during other months. Early summer also sees homes reaching high prices, while November, December, and January see less action from home buyers.
Key Factors That Help New Mexico Homes Sell Faster
While putting your New Mexico home on the market sooner rather than later this year is the best way to see it sell quickly, there are other ways to speed up the home selling process.
First, homeowners will need to make sure their home is listed for the right price. Homes that are listed above market value tend to sit on the market for a longer period of time. Likewise, homes that are listed below value, often in an effort to draw in buyers, tend to be overlooked as many buyers may assume there’s something wrong with the property. Setting your listing price as close to your home’s actual value as possible is the best pricing strategy.
Inspections can cause major delays in the home selling process, so if you’re in need of a speedy sale, be sure to pay for an inspection prior to listing your home. This will help you adjust your listing price, if needed, and make any required repairs ahead of time.
Lastly, be sure to market your home effectively in order to draw in a large number of buyers. A great real estate agent can help market your home by offering listing advice, taking professional photographs, and employing proven strategies to attract buyers.
3 Tips for Maximizing Your Profits When Selling a Home in New Mexico
1. Consider Your Specific Market
In order to price your New Mexico home to sell, you’ll need to determine your home’s actual value. While this may seem easy, figuring out the correct value is often hard to do without an agent. While online tools may offer ballpark estimates, only a qualified agent can help you figure out your home’s actual value.
A real estate agent can offer a free CMA (comparative market analysis) to help you understand your home’s actual worth, price it correctly on the MLS, and help determine the right marketing strategy for selling your home.
Learn more about a comparative market analysis and why it’s so important.
2. Make Impactful Repairs and Renovations
In order to get top dollar for your New Mexico home, you’ll want to make sure all major and minor repairs are completed before listing your home. It’s important to fix faulty appliances, HVAC issues, and repair any damages you may have caused while living in your home. Even small fixes, like upgrading a faulty door handle can maximize your home’s overall profit.
Many homeowners think that renovating might improve their chances of selling their home for a higher listing price. While the logic is sound, often full renovations are not worth the overall value they add to your home. Making small enhancements instead, like replacing cabinet doors, repainting, and swapping out hardware is often a better way to attract buyers without investing a small fortune.
Learn more about the six best high value, low-cost repairs for home sellers.
3. Find a Great Real Estate Agent
The best way to improve your chances of selling your home for the best possible price is to partner with a talented, local real estate agent. A top agent will already know all of the best marketing strategies for your New Mexico home, including when to put your home on the market.
A qualified agent can also provide advice and insight throughout the entire selling process, helping you manage all of the small details from staging and listing your home to running home tours and negotiating offers. They can also answer any questions you have along the way and will work on your behalf to get you the best possible price on your home.
Typically, full-service real estate agents charge high commission rates, but Clever can help you team up with a full-service agent for a fraction of the cost. Clever has partnerships with top real estate agents across brands like RE/MAX and Keller Williams which allow homeowners like you to work with qualified agents for a reduced cost.
To learn more, fill out our online form, and a local agent will be in touch with a no-obligation consultation.
Get started with a Clever Partner Agent here.