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Albuquerque Real Estate Market Update - August 2011

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

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Beautiful Bernalillo CountyLivingAlbuquerque, and Lloyd & Associates Real Estate.

C. Lloyd McKenzie, MBA

NM Real Estate Broker

Phone: (505)750-8552
Email:Lloyd@LivingAlbuquerque.com

Areas Served: Albuquerque Metro/ Algodones/ Bernalillo/ Cedar Crest/ Corrales/ Edgewood/ Los Lunas/ Los Ranchos de Albuquerque/ Placitas/ Rio Rancho/ Sandia Park/ Tijeras

Comment balloon 5 commentsC. Lloyd McKenzie • September 29 2011 09:56PM

Comments

With winter coming on, some listings will drop along with the number of sales.  Does your market slow when bad weather comes along.

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX Solutions) almost 7 years ago

Thanks for sharing this Market Report about your market area. It's always nice to see what others areas are doing in comparison to our own market area.

Posted by LanullJuana Ransome, Keller Williams Realty (909-559-5523) almost 7 years ago

Hi C Lloyd, prices are holding steady, that is always great news! Closed sales are up (that's quite a jump, too) and days on market are down .. with the interest rates so low, it can only continue to improve from here on. Great for buyers and promising for sellers as well.

Posted by Andrea Bedard, M.A.; REALTOR® Silver Spring, MD and beyond (Thompson Company, REALTORS®) almost 7 years ago

Good Morning C Lloyd, I always enjoy reading market information from Albuquerque and New Mexico!  An excellent report.

Posted by Dan Edward Phillips, Realtor and Broker/Owner (Dan Edward Phillips) almost 7 years ago

C Lloyd,

 It looks like there are many homes to choose from in the Rio Rancho area. This was the up and coming place when I was there in the 80's. I will never forget I was invited to a party and it was is the foothills and you could see the lights of Albuquerque below. It was such a beautiful sight I have not forgotten the view!

Posted by Yolanda Cordova-Gilbert, Sitterle Homes (Sitterle Homes) almost 7 years ago

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