Homes are Selling Very Fast: Albuquerque Buyers and Sellers, Be Ready

Homes are Selling Very Fast: Albuquerque Buyers and Sellers, Be Ready

(Transcript Snippet): “Tego:

Well, let me just put out a couple more interesting statistics about the Albuquerque housing market before we get them homes of the week, which you’re gonna do Tracy. But so I, I, you know, we, we know that homes are selling very fast, right? We know that the supply is low demand as high homes are coming on the market and going off very fast. But I was curious how fast is fast. And what I found is that 30% of the homes that came on the market and are that sold in January, February 30% of them sold in two days

Tracy:

As in an offer was accepted. And they came off the market

Tego:

Exactly. Yep. And, and 60% were seven days or, or less. So you could basically say 60% of the homes that closed in January, February of this year sold immediately seven days is, is virtually immediately

Tracy:

For all of our listeners. They probably understand. But what happens typically these days is sellers are keep being the house on the market for two or three days. So most buyers that are in the market have an opportunity to look at it before they review their offers. Correct. So that 30% in two days or less versus 60% in a week or less, you know, a lot of those ones that are in that first week are probably day three or,

Tego:

Well, you know, I mean, think about that 30% of them two days or less. And I did see a lot in the statistics that were zero days on market, basically went on the market sold the same day. Yeah. And so, you know, things are moving very fast. And, and the, the thing that’s interesting though, is, you know, you know, this very well is it’s a little more complicated, a little more, you know, frantic pace right now for both buyers and sellers and buyers and sellers really have to be ready for, for what’s going on totally with the current market and have somebody that really can, can help ’em navigate this kind of wildness of this wild ride. If you will.

Tracy:

You know, we are seeing even people who are thinking about selling their home themselves are, are using a realtor these days because of our ability, you know, when, when we work with so many buyers and sellers, we know the negotiating tactics, we know how to make sure that it’s a win-win for both the buyer and the seller. So when we come together and represent that seller we’re, we’re really doing a great job for them. Yeah.

Tego:

So, so yeah, it’s just my hope just to put a bow on this conversation about the housing market is that we do get some more homes coming on the market and, and, you know, alleviate some of the supply challenges. And I know everybody says, well, why don’t they build more? Well, they’re trying, but you know, the home building has its own constraints right now. That’s not letting up at the moment. So got a long way to go there.

Tracy:

That’s a different radio show.

Tego:

That’s a whole nother, that’s a whole nother one hour conversation for sure.

Tracy:

We’ve covered it before

Tego:

We have,

Tracy:

We have we covered again,