Sales: I'd like to begin with the total sales. In the month of March just over 1100 homes and condos sold. That's a significant increase from the 704 that sold in February and also about an 8% increase from the sales of the same time last year.
Price Point Activity: Historically, we see anywhere from 73 to 76% of the total sales being of homes that are priced $250,000 and under. With homes priced under that mark and ATMARKET VALUE, you will often see multiple offers within the first week on themarket. In fact, just over the weekend my team and I had multiple offers on a home in Southwest Albuquerque priced below the $250,000 range. We received multiple showings and multiple offers came in! The important thing to remember is that we priced the home based on what the market was telling us it's current market value was. Because we priced correctly, activity was generated and offers came in!
Determining Market Value: This is where a knowledgeable Realtor comes in. Sellers need a Realtor, like myself, who knows how to assess current market value! Too many Realtors will simply price a home based on what the seller believes it's worth and yet I believe there is a give and take. As the professionals, we would be doing you a disservice if we simply just agreed with you on what you believed your house was worth. It's our job to determine market value based on what's happening in the marketplace today and come to an agreement with sellers on a price that will help get their home sold today!
If you're looking to buy, sell or invest in real estate, call us today at 505-238-3272, 238-3272 or email cheryl@cherylmarlow.com.
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