Jerome Leyba is a top-performing New Mexico real estate agent who sells homes 32% quicker than the average agent in his Santa Fe agent market. When it comes to deciding whether to use a house-buying company, he advises homeowners to compare it to trading in a car at a dealership.
“You have to have realistic expectations,” he explains. “[The dealership] is going to give you money right there. But are you going to get the top dollar for the value? No, you’re not. Because that company has overhead. They have to ensure they cover the cost and make a profit.”
The same idea holds true when accepting a cash offer, Leyba explains: “You’re probably going to get something quick, but it’s going to be substantially under what you may be able to get on the market working with a Realtor… So you have to go into it knowing that you are not going to get top dollar for your home.”
Leyba recommends you also explore the option of partnering with a top agent. “You want to connect with someone that knows your market and can really help you to strategize. This is the biggest potential sale you’ll make in your life, so you want to make sure that you’re supported adequately there.”
Option 2: Hire a top New Mexico real estate agent
An expert New Mexico agent can manage your home sale process end-to-end, from eye-catching staging to strategic negotiating, aiming to maximize your profit even when time is of the essence.
Let’s take a brief look at New Mexico’s current market dynamics, examine the benefits of partnering with a real estate professional, and explore how to connect with a top-tier agent in your area.
How fast are homes selling in New Mexico?
The speed at which homes are selling in New Mexico varies throughout the year, but data from HomeLight indicates that the median days on market (DOM) — the time it takes from listing a home to having a signed contract — is relatively short, ranging from 7 to 23 days, depending on the season of the year. But sellers must also take into account the additional 44 days it takes for a buyer to close on a purchase loan.
Leyba says buyer behaviors have changed. “The time on the market has definitely gone up a bit. Prior to this, when we had the lower interest rates, [selling] clients were able to test the market at pretty high prices. Buyers are a lot more particular now than they were before, so you have to strategize on pricing.”
But being strategic can still result in a fast sale. “We’re still seeing multiple offer situations. We’re still seeing homes get a contract quickly, sometimes within the week, sometimes within 2–3 days,” Leyba says.
The following data tables will provide a clearer picture of DOM trends by month, as well as sale price trends across New Mexico. (Source: HomeLight).
Median DOM trends in New Mexico
|Month||Median DOM (2022)||Median DOM (2023)|
Does not include the typical 44 days a buyer needs to close on a purchase loan.
Median sale price trends in New Mexico
|Month||Median Sale Price (2022)||Median Sale Price (2023)|
“Pricing is the key component to a fast sale,” Leyba notes. “Strategizing with a quality broker in the area that knows the market, knows the neighborhood, and knows how to adequately price your house is key to success.”
Benefits of selling with a top New Mexico agent
Even in a shifting New Mexico housing market, partnering with a top real estate agent can result in a speedy and lucrative home sale. Here are some of the key benefits of working with a seasoned agent: