What Should Be Your Listing Price Compared to Other Albuquerque Home Prices?
In January 2022, the median price for a home in Albuquerque, NM, was $299,900. This reflects a 15.4% upward trend year over year. Across the nation, the housing market continues to break new records. As a seller, it’s a great time to sell because Albuquerque home prices don’t show any sign of dropping. This is what is known as a “seller’s market,” which means there are more buyers looking than there are homes available.
Tips for Setting Your Albuquerque Home Prices
Even though the seller’s market is hot, it’s still important to list your home for the right price. Otherwise, a too-highly priced home could be on the market longer than you would like it to be. On the other hand, if you set your home’s price too low, you can all but guarantee that it will sell quickly, but you may not get the best possible offers for it. Here are tips for figuring out your listing compared to other Albuquerque home prices.
How Are Other Homes in Your Area Priced?
To make sure your home is priced fairly, take a look at the sale price for other homes in your area. Make sure the homes you’re comparing yours to are similar in style and size. Buyers typically do comparison shopping when deciding which houses are priced fairly and which are not. You can almost guarantee that interested buyers will check out the prices of other homes for sale in your area before deciding whether to pay your asking price or go with another home.
What Is the Condition and Age of Your Home?
Your home’s condition and age should help determine your listing price. Older homes that require a lot of updating should be priced lower than newer homes that require little to no updating. Buyers are typically taking a higher risk when they purchase an older, outdated home. They expect that risk to factor into Albuquerque home prices.
How Many Homes Are for Sale in Your Area?
If there are a lot of homes for sale in your immediate area, you have a lot of competition and need to price your house accordingly. On the other hand, if there are few homes on the market in your neighborhood, that creates less competition and potentially improves your ability to charge more for your home. Rarity is often seen as a good excuse for charging a higher price.
Hire a Skilled Realtor To Determine Fair Albuquerque Home Prices
Determining what price you should put on your house can be an intimidating and challenging process. If you try to price your home without any help, you could end up wondering if you could have gotten more money for your home or if you could have sold more quicker.
Fortunately, you can rely on the experts at Myers & Myers Real Estate to take the guesswork out of setting competitive Albuquerque home prices.
Myers & Myers Real Estate
The real estate market is constantly changing and no two clients or transactions are the same. Achieving the real estate goals of our clients are the cornerstone to our business philosophy. You can count on Myers & Myers Real Estate Agents to provide you exceptional customer service.
Sell your home working with an experienced Albuquerque Realtor® who specializes in your desired market will make all the difference. Myers & Myers Real Estate Agents take the stress out of selling a home.