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Albuquerque Real Estate Market Update

August 2011

Below you will find six of the most important market statistics for Detached Homes in Albuquerque, New Mexico.  As we compare today’s real estate market to those of six months ago it is clear what the trend is.  By understanding today’s real estate market, we will be prepared to price your home appropriately to sell for the highest possible price in the shortest amount of time.

The data indicates that more homes are entering the market than are being sold, so we are in a still in a "buyers market." There has been a 5% increase in the amount of homes available for sale. The expected result is a decrease in price...Average Price of Sold Homes decreased appoximaely 1/2% from $192,000 six months ago to $191,000 in the month of August.  

So what does it look like now?

·         The average days on the market for our area last month:                      71

·         New property listings last month:                                                      846

·         Total active properties for sale for the month of August:                    3105

·         Total number of properties under contract in the last month:                443

·         Total number of properties sold/closed in the last month:                     445
           

·         Total number of expired listings last month:                                        147

Where were we six months ago?

·         The average days on the market for our area last month:                       82

·         New property listings last month:                                                       934

·         Total active properties for sale for the month of March:                     2963

·         Total number of properties under contract in the last month:                465

·         Total number of properties sold/closed in the last month:                     397
           

          Total number of expired listings last month:                                        167