How Long Does it Take to Sell Land in New Mexico?

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How Long Does it Take to Sell Land in New Mexico?
By

Bart Waldon

New Mexico, known as the Land of Enchantment, spans over 121,000 square miles offering diverse landscapes from the Rocky Mountains and Rio Grande valley to high desert plains. With vacant lots and massive ranches available, New Mexicans looking to sell their land may find the process takes patience.

Determining a Realistic Asking Price for New Mexico Land

Land prices fluctuate dynamically in New Mexico based on property type, location, market conditions, and various other factors. As the second largest state geographically, region drastically impacts land values from north to south.

When selling land in New Mexico, setting an optimistic yet realistic asking price is key. Comparable sales in the county reveal average days on market and final sale prices for similar land parcels. Consider geographic location, any existing structures, access and frontage, views, vegetation, intended land use zoning, soil condition, and other attributes impacting desirability when determining valuation.

While the goal is maximizing sale profit, pricing too far above market risks the land sitting unsold for years.

Marketing New Mexico Land Takes Persistence

Simply placing a for sale sign along the road front with a broker’s number may not suffice in New Mexico’s expansive countryside. Effective marketing requires casting a wide net through both digital and print channels.

Creating an eye-catching listing with professional photos allows prospective buyers to view the property virtually. Utilize land listing sites like Lands of America and LoopNet to gain online visibility.

Run ads in statewide land and ranching publications over several months. New Mexico Farm & Livestock Brokerage markets to those seeking ranch land. Place classifieds in local newspapers covering smaller rural communities.

Be prepared to show land frequently to potential buyers throughout the process. Setting a listing price accordingly brings more interested parties to walk the acreage.

Factors Impacting Timeline for Selling Land in New Mexico

Unfortunately, a convenient quick sale is rarely the case when divesting raw land in New Mexico without existing structures. Several key factors determine timeline:

Limited Buyer Pool for Vacant Land

The target buyer pool focuses on a few niche groups rather than the broad homebuyer market. Finding an individual seeking that particular parcel for personal use or an investor with alignment proves challenging. With finite interested purchasers, seasoning and persistence becomes necessary.

Access and Development Impact Desirability

Land deep within hard-to-access areas without utilities requires greater vision from buyers on intended use. Parcels adjacent to improved roadways, electricity, community water/sewer etc. progress more rapidly to closing. Off-grid lands with challenging geography or limiting wildlife/vegetation warrant creativity from buyers on possible use thereby lengthening market time.

Market Conditions Dictate Speed

During strong economic periods with lower mortgage rates, recreational lands sell quicker. In downturn market cycles or a recession, land sales can grind to a halt temporarily. New Mexico land values closely tie to oil & gas industry health. Only the best parcels move when oil/gas production declines.

Motivated vs Unmotivated Sellers & Buyers

The relative motivation levels of both buyers and sellers greatly impacts timeline. Sellers unwilling to price appropriately or stubborn to sharp value declines slow the moving process. Meanwhile, buyers with flexibility to wait for the right parcel or best price often take longer to seal the deal.

Realistic New Mexico Land Sale Timeline Expectations

The hard truth about swapping land ownership in New Mexico points towards patience needing to play a pivotal role for most sellers. These time expectation sets sellers up for success:

  • 6 - 12 Months - Parcels listed competitively with some buyer pool demand drivers like good access, desirable geographic area, recreational/agriculture utility etc. tend to change hands between 6 months and a year on market in New Mexico if priced well.
  • 1 - 2 Years - The average marketing timeline spans 1-2 years for most vacant land sales in New Mexico. Challenging geographic locations, very remote tracts lacking access/utilities, economically depressed markets are some factors contributing to this lengthy average.
  • 2 - 5+ Years - Overpriced land listings with stubborn sellers unwilling to adjust even slowly downward to market feedback reality face long timelines exceeding 2+ years. Recreational/lifestyle lands lacking infrastructure in distant rural locales also often linger for years seeking the ideal buyer willing to take on development challenges.

In New Mexico's land market, selling success intertwines directly with reasonable value expectations, relentless marketing, buyer targeted messaging, and acceptance that the process won't be accomplished rapidly in most cases. Landing that perfect buyer who sees the property through the same usage lens as yourself hinges largely on persistence and patience during marketing.

Leverage Land Buying Companies to Progress Sale Quickly

Some New Mexico land owners need or want to sell their vacant land fast due to life changes, inheritance scenarios, financial/tax motivations etc. Waiting years stressfully trying to shed land independently may not align with objectives or practical ability for certain sellers.

Selling land for cash to a dedicated land buying company like Land Boss serves as an alternative exit strategy to move the needle much quicker versus struggling alone on public listings. These specialized land investment firms aim to buy and sell land to end-users at volume for profit over time. So, they possess appetite for discounted land in possibly all locations and conditions to flip later.

Reputable regional and national land buyers like Land Boss make cash offers after assessing parcel attributes. By accepting a bit below full open market value, New Mexico sellers succeed in offloading land responsibly often in a matter of months that otherwise could linger for years. This exit path helps seniors, inherited owners, or those land rich/cash poor eliminate tax/maintenance burdens through a simplified sales process with reliable cash payment funded rapidly.

Final Thoughts

Selling vacant land without improvements in New Mexico endures as a marathon, not a sprint for most owners looking to divest fully themselves through public listings. The remote locales, economic volatility influencing values, and narrow buyer targets all extend the average marketing period substantially - generally 1 to 2+ years regional data indicates. Yet for those New Mexicans seeking to sell land sites quickly as-is for instant cash infusion, enlisting reputable land buying companies can deliver a fast, convenient exit to permanent ownership.

Frequently Asked Questions (FAQs)

What is the average time it takes to sell land in New Mexico? 

The average time it takes to sell land in New Mexico is 1-2 years according to regional data. More desirable parcels in economically prosperous areas may sell in 6-12 months. But most vacant remote land takes patience and persistence to market for a year or longer before changing hands.

What New Mexico counties see land sell the fastest? 

Santa Fe County and Taos County in north central New Mexico generally see faster land sales thanks to robust tourism economies and desirable Rocky Mountain recreational attributes. Their positioning along key travel corridors, relative proximity to Denver/Albuquerque, and artistic communities also attract buyers nationally to drive deals quicker.

How long should I expect to market my land in rural areas of New Mexico? 

In the more rural areas of New Mexico further from economic hubs, owners should brace for longer marketing times between 2-5+ years potentially. Limited demand, very remote locales lacking infrastructure, and government land predominance all hamper sales velocity. Creative pricing and promotion help, but patience plays a pivotal role selling outlying lands.

Do oil/gas trends impact land values and sell times in New Mexico? 

New Mexico lands valuations and demand tie closely to oil/gas production economic impacts since much private land ownership gets interspersed near federal lands with energy mineral rights that drive drilling. When crude prices rise spurring increased drilling permits, even remote land sells faster. The inverse happens in downturn cycles - prices fall and land sales slow to a crawl.

If I want to sell my land fast, what options exist besides public MLS listings? 

Some urgent life events or financial motivations require selling land quicker than the 1-2 year statewide average. In these cases, leveraging reputable land buying companies offers an alternative fast exit. Companies like Land Boss purchase vacant land for cash at mild discounts to market values via fixed price offers and rapid closes. This responsibly sheds unwanted land ownership burdens faster for some owners in months rather than years.

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.

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