Published 29 December 2017
LAS CRUCES – If you’re planning to sell a single-family home in 2018, now is the time to formulate your strategy. Will your ideal sales window open when the kids break for the summer, or will your timing be motivated by a job change or retirement earlier or later in the year? Knowing when to list your property for sale is the key to getting the highest possible price and moving when it’s most convenient for you.
Listing your property at a time that’s too close to your desired moving date may require a quick sale in order to hit your mark, which often results in a lower selling price. Listing your home too far in advance of your move could result in your property remaining on the market for a longer-than-normal time, which frequently encourages buyers make low offers because they think you’re getting desperate. So, how can you determine the best time to list your property?
The answer can be found in our local home-sale statistics. According to a Dec. 26 report from the Las Cruces Association of Realtors, more purchase agreements were signed in May than in any other month. The stats also indicated that June produced the year’s highest number of closings, and that the average time on the market for the 1,823 sales closed through Dec. 26 was 83 days.
Using those numbers, a property owner who listed on March 1 could expect an offer within the first 45 days, or by April 15, followed by an additional 45 days to process and close the sale by the end of June. While the year-to-date statistics represent the averages for all sales in all areas, the statistics for your neighborhood, subdivision, area or price range may be different.
As Dr. Phil often says, “no matter how thin a pancake, it still has two sides.” The same holds true for real estate sales. The other side of this equation has to do with values. Given the steady appreciation our market has enjoyed over the past two years, it is entirely possible that home prices will be higher at the end of the year than they were when the year began.
The fact remains that Las Cruces home-sales are fairly steady throughout the year, with 55 percent of Las Cruces-area sales take place in the spring and summer and the remaining 45 percent of sales taking place in the fall and winter. A knowledgeable Realtor can easily tailor the statistics in your particular area to determine the best time for you to list your specific property.
See you at closing.
Gary Sandler is a full-time Realtor and president of Gary Sandler Inc., Realtors in Las Cruces. He can be reached at 575-642-2292 or Gary@GarySandler.com