August 2015 Market Statistics

Sales: The Greater Albuquerque Association of Realtors released the statistics to us and as we do every month, I want to pull the most important information from those reports, the highlights if you will.  We will begin with the total number of sales that were made in the month of August.  Last month, a total of 1,034 homes and condos were SOLD.  That is an increase from August of last year by 139 sales. It was a slight decrease month to month, and we were expecting that, as we see the market begin to hit that seasonal slow down.

Price Points: Maintaining our market consistency, we experienced the majority of sales in the $250,000 and under range with 71% of sales and if you’ve listened to my market updates before, you will notice that number is lower than usual.  That’s because of an increase in sales in the $250,000 to  $500,000 range! In the month of August, that middle price point accounted for 28% of sales…about a 6% increase from what the market normally experiences.  For those with upper-end homes on the market, that’s $500,000 and above, there were only about 30 sales with 6 of those being over $750,000.  These numbers can be a little discouraging for sellers.  For homeowners who have a home in that upper end, I'll remind you of my famous slogan...selling a home in this market is a Price War and a Beauty Contest.  If your home is not priced based on what the market is dictating, then it simply will not sell.  You need an experienced high-end professional, like myself, to represent you in the sale of your home.  You need a Realtor on your side who knows how to interpret what the market is doing on a day to day basis to make sure your home competes among its top competitors.  That includes being “show ready”. Simply decluttering and deep-cleaning will do wonders for your home.

Looking to Sell? Call us today at 505-238-3272 or email cheryl@cherylmarlow.com!!! 

July 2015 Market Statistics

Sales: The Greater Albuquerque Association of Realtors has released the July market statistics and as usual, I want to start by highlighting the total number of sales that were made throughout the month.  In July, a total of 1,120 homes and condos were SOLD.  That is an increase from the 1,075 homes that sold in June. Not only did we see that month to month increase, we also were up more than 200 sales more than what sold in July of last year.

Price Points: Maintaining our market consistency, we experienced the majority of sales in the $250,000 and under range with 75% of sales.  Homes that sold between $250,000 and $500,000 accounted for 22% of sales and the upper end, that’s $500,000 and more, were just 3% of the total sales.  

Seasonal Adjustment: Many sellers get nervous around this time of year because we will see what we call a seasonal adjustment in fewer sales … and I will say it is not unique to the Albuquerque market.  Cities all across the country will begin to see the market slow down and experience fewer sales.  However, let’s not confuse that with a lack of buyers or sellers.  Homeowners still need to sell, and buyers will still be out looking.  People often ask us if they should “wait” until the market picks up to put their home up for sale, and my answer is “no”.  Instead, choose to be the seller that strategically places your home on the market, with an experienced agent like myself, while there are buyers out looking and less competition to choose from.  It’s all about your perspective and knowing that there are buyers out there and if your home isn’t on the market, they’ll never see it.

If you're looking to buy or sell a home today, or know someone who is, give my team a call at 238-1000!!  

June Market Report 2015

Cheryl's on the Air with 770 KKOB-AM Radio

Home Sales: In June, a total of 1,075 homes and condos were SOLD.  That is an increase from the 997 that sold in May. Not only is it an increase month to month, it’s also a significant jump from the 871 homes and condos that sold in June of 2014.  Last month, in detached homes alone, we experienced a 23% jump in closed sales when compared to last year.  Frankly, that’s great news for our market.

Price Point: Month to month, we've seen homes under $250,000 account for a large majority of sales. In June, however, it wasn’t as large of a chunk of sales that were used to seeing.  Where we normally see anywhere from 74% of sales $250,000 and under, last month, that price range accounted for just 71% of the total sales.  Still, that’s the mass majority of what sold.  And, while we experienced a drop in activity in that price range, we actually saw an increase in the upper end of homes $500,000 and higher.  In June, 5% of sales were in that price range.  We haven’t seen that kind of activity in the upper end all year. This activity shows us that serious buyers are out looking and making serious offers!   

More Highlights: Another highlight I want to mention is that both the average and median sales prices in June were at the highest they’ve been since 2008!  Also, inventory increased from May to June with 1,175 homes and condos entering the market with a total inventory of more than 4,500 homes available.  Based upon last month’s sales, 23% of available inventory sold. That’s 23 out of every 100 homes. That tells me that supply and demand in our market is still out of balance and even with all of the positive market signs; we remain in a buyer’s market and a price war and beauty contest. That’s why it is of the upmost importance to hire a professional, like myself and my team, to represent and guide you through the home selling or buying process! It’s imperative to have a professional on your side of any real estate transaction!

Looking to buy or sell today? Call 238-3272 or email cheryl@cherylmarlow.com.  

May Market Report 2015

Cheryl's on the Air with 770-KKOB-AM Radio

Home Sales: In May, a total of 997 homes and condos sold in the Greater Albuquerque Area.  That's an increase from the 915 that sold in April. Not only is it an increase month to month, it’s also an increase from the 878 homes and condos that sold inMay of 2014.  I also want to mention that healthy increase we are seeing in pending sales.  In May, 1349 homes and condos had contracts written on them.  That is nearly a 24% increase from last year, and we only expect that number to grow over this next month.

Price Points: Month after month we've seen sales $250,000 and under, account for three quarters of the total sales.  Again, that was the case in May. In fact we saw 76% of total sales $250,000 and below.  20% of sales were between 250,000 and 500,000.  What we did see a change in last month, was the number of sales in the upper end…that’s $500,000 and above.  In May, 4% of the total sales were in the upper end.  That’s up from the 3% that we are used to seeing month after month.   

Inventory: In April, we experienced a significant rise in inventory with more homes coming onto the market.  This month, that story has changed.  In May, 1719 homes and condos were new to the market.  That’s about a hundred fewer than in April.  There is still a great deal of competition out there and buyers have the ability to be picky about the homes they decide to seriously consider. That’s why the pricing and marketing of your home is so important and you need to have a Realtor, like myself, on your side who knows the market well and will know how to position your home on the market in order for it to, one, net you more money, and two, get your home sold sooner.

Looking to buy or sell today? Call 238-3272 or email cheryl@cherylmarlow.com.  

April Market Report 2015

The Greater Albuquerque Association of Realtors has released the market statistics for the month of April and reveals some great news for our market.  

Home Sales: Let's begin with talking about the total number of sales.  In April, a total of 915 homes and condos sold.  In March,  that number was 891 and in February it was 604.  So as you can see, those numbers show that we are experiencing  a healthy increase in sales as we get into these warmer months.  In addition to the month to month increases, we saw a huge jump in SOLD signs when compared to last year.  In April of 2014... 773 homes and condos sold.  Do the math, that's a hefty increase of 142 sales and it's great news for our market.

Price Points: As we see month to month, the majority of sales in the Greater Albuquerque Area were under that magic $250,000 mark.  In fact we saw 75% of the total sales under $250,000.  22% of sales were between $250,000-500,000 and as usual, just 3% were over $500,000.  Our market is maintaining its consistency when it comes to what price ranges are selling.

Market Inventory: Inventory is up!  In March, 1700 homes and condos were new onto the market!  Last month, that number increased to 1831.  Right now, more than 4500 homes and condos are available.  That's why if you are a seller... pricing your  home right is more important than ever.   Buyers have too many homes to choose from and if yours is overpriced, a potential purchaser may even overlook it and you could be missing out on that sale, end up having to reduce the price multiple times, rack up time on the market, at the end of the day possibly even netting less money than you could have, had you priced your home correctly in the beginning.  You need a professional, like myself, on your side to help you determine what that sales price should be in order to get your home SOLD!

To Buy or Sell, Call us Today!  238-3272, 238-3272 or email cheryl@cherylmarlow.com

Who do you know who needs to buy or sell real estate today?

March 2015 Market Report

Cheryl Marlow - Residential Real Estate Expert on 770-KKOB-AM Radio

Overview of Sales: The Greater Albuquerque Association of Realtors has released the statistics for the month of March and as we always do, we will begin with the total number of sales.  In March, a total of 891 homes and condos were sold.  In February,  that number was 604.  As you can see, we experienced a healthy increase in sales over the last month.  In addition to the hike in sales from month to month, we also saw a jump in SOLD signs when compared to last year.  In March of 2014... 757 homes and condos sold.   Compare that to this year and we experienced a jump of more than 100 sales.  That's great news for our market.   

Price Points: Last month, a large majority of sales in the Greater Albuquerque Area were under that magic $250,000 mark.  In fact we saw 76% of the total sales under $250,000.  21% of sales were between $250,000-500,000 and as usual, just 3% were over $500,000.  Our market is maintaining its consistency when it comes to what price ranges are selling. 

Inventory:  In March, nearly 1700 homes and condos were new to the market!  That's a healthy jump in inventory.  For sellers that means more competition.... for buyers, more choices!  That is why it is critical for sellers to be competively priced if they want their home to sell.  As of late, just about 20 homes out of every 100 sell.  For your home to be one of the 20% selling every month, you need a Great Realtor, a Great Price and a Great Marketing plan. 

Call us today for a free home value estimate at 505-923-4745!

Or email cheryl@cherylmarlow.com

February 2015 Market Report

In February,  a total of 604 homes and condos were sold.  That's an increase in sales from the 585 homes and condos that sold in January.  Last month we also saw a healthy increase in pending sales.  There were 999 contracts written on homes and condos.  This gave us positive momentum going into March.

Sales By Price: When talking about price points, month after month we can pretty much bet on 74 to 75% of sales to be under that magic $250,000 mark.  For the last two months that percentage has jumped.  In January we saw nearly 79% of sales under $250,000.  In February that number was almost 80%.  Buyers are really looking in that affordable range.  17% of home sales were between $250,000-500,000 and just 3% were over $500,000.  Our market continues to maintain consistency when it comes to what price ranges are selling. 

Sales By Area: Last month Placitas saw just a half of a percent of all detached sales with only 3 homes sold.  The East Mountains saw only 4% of the total sales.  With those kinds of numbers, it is imperative for sellers to select an experienced Realtor who knows the market and how to price your home, and market it correctly.   And with this beautiful weather we've been seeing, you can expect a huge influx of inventory in the Albuquerque area over the next couple of months.  That's only going to create more competition and is all the more reason to hire a professional.  A team like mine willmarket your property correctly and get you the exposure you need in order to sell your home before that other house in the neighborhood sells.... and help you to net more money. 

Let our team help you today!! 

Call us at 238-1000 or email cheryl@cherylmarlow.com! 

January 2015 Market Report

In January,  a total of 585 homes and condos sold in the Greater Albuquerque Area.  That's a decrease in sales from the 727 homes and condos that sold in December.  However, we should take into consideration the number of homes and condos that had contracts written on them last month, which was 924.  That is a healthy jump in activity and based on that number alone I expect to see a significant increase in closed sales for February.

Most of the sales were under that magic $250,000 mark.  In fact last month we saw 79% of sales under $250,000 in January.  That's even up from what we normally see month to month which is around 75%.  And when jumping up to home sales between $250,000-500,000 we saw about 18% of the total activity and 3% was over $500,000.  Our market is maintaining it's consistency when it comes to what's selling. 

Northeast Albuquerque and the close-in west side received a healthy majority of last month's total sales.  The outlying areas of Albuquerque are still slower, but we are starting to see a hike in activity in February.  I am optimistic about these next couple of months and believe that now is a great time to get in the game if you're a seller.  It's a smart marketing move to get your home on the market before we see a huge influx of inventory come Spring. 

If you're looking to buy or sell a home today.. call my team at the office at 505-923-4730 or email us at cheryl@cherylmarlow.com.

December 2014 Market Report

I’ve looked over the December market statistics thoroughly and believe it or not, the Greater Albuquerque Area saw more sales in December than in November.  Here are some of the highlights.  In December 727 homes and condos sold.  That’s compared to the 658 that sold in November. Not only did we see the number jump from month to month…it’s also an increase from what we saw sell in December of last year.  

I may sound like a broken record, but our market truly is consistent month to month when it comes to activity in certain price ranges.  In December we saw just 3% of sales above $500,000.  22% were of homes and condos between $250,000 and $500,000 and of course we saw a large majority of sales in that magic mark of $250,000 and below.   

I do believe we will start to see the market pick up following the holiday season.  In fact, we’ve already seen a lot of activity in January.  I’ll give you a snapshot of what’s already happened.  In just the first few weeks of the New Year, 282 homes and condos sold and 557 have contracts written on them.  Buyers are out there looking and serious buyers are making offers.  If you’re a homeowner on the fence about selling, now is time to get in the game before we see a huge influx of inventory in the early spring.  Less competition means more activity for your home and could ultimately mean a sale.  

November 2014 Market Report

The Greater Albuquerque Association of Realtors has released the numbers for the month of November.  I looked through the market report in depth and pulled out some highlights to focus in on.  In November, 658 homes and condos sold.  That’s down from October’s 827 sold.  And there’s always a silver lining right?  For us, it’s that the 658 sold last month, is actually an increase when compared to the same time last year when just 617 were sold.

Maintaining our market’s consistency…we saw only 4% of the total sales above $500,000.  As expected, most of the sales were made below the $250,000 magic mark totaling for nearly 73% of all of the homes and condos sold in November.  That of course means 23% of sales were between $250,000 and $500,000.

Supply and demand also stood out to me in this report.  Our market is still out of balance.  In November there were 4741 homes and condos available.  Out of the 4741 only 658 sold.  Those numbers tell me that only 14% of homes and condos on the market in November sold.  Let’s break that down … that’s 14 out of every 100 homes and condos available selling. This time of year it is a price war and a beauty contest more than ever.  That’s why it’s so important to have an experienced Realtor on your side who will tell you the truth about how you should price your home and show your home in order to get it Sold! 

September 2014 Market Report

The Greater Albuquerque Association of Realtors just released the statistics report for the month of September.  We did see a decrease in activity since August.  A total of 776 detached homes and condos sold last month when compared to 895 in August.  We predicted this decline with the seasonal slowdown, however September’s sales were almost 10% less than September of 2013 which indicates the real estate recovery in Albuquerque is stagnant at best. 

The outlying areas such as the East Mountains and Placitas continue to be a challenge.  We saw just 5% of the total detached home sales in the East Mountains in September.  Another area that is challenging is in the upper end.  Last month only 3% of sales were above $500,000 and only half of one percent of sales was for homes listed at $750,000 and above.  Maintaining market consistency, 76% of sales were under $250,000 and 21% of total sales were in the $250,000 to $500,000 range. 

As you can imagine pricing, especially in the upper end, is very important with these current market conditions… in fact it is absolutely vital!  You have to be competitively priced to win the price war and the beauty contest with buyers.  The good news is that the buyers out looking this time of year are serious about making a purchase.  They’re looking for a home that shows well and is well-priced.  That’s why it’s so important for sellers and buyers to work with experienced and knowledgeable Realtors like myself who can help you navigate the current market conditions.  If you are a buyer, especially in the upper end, there are great opportunities available to purchase your dream home!

August 2014 Market Report

In the month of August the Greater Albuquerque Association of Realtors reported 895 closed single-family, detached homes and condos.  Almost tied with the 898 sold this past July and 5% below sales we experienced in August of 2013.  We also saw more than 950 pending sales in August.  I’m encouraged by those closing numbers and at the same time I am closely monitoring supply and demand as with 1700 new listings in the month of August we have an oversupply of inventory of 5500 homes.

As usual, we saw quite a bit of activity in the Northeast Heights.  What was different this time around was an increase in activity in some areas West of Coors.  The southwest and northwest heights each had more than 40 sales in the month of August.  I have to mention the East Mountains, as I do quite a bit of business out there and also live out there.  The market is still very slow.  In fact in the month of August there were only 41 detached homes sold.  That’s less than 5% of the total detached sales in the Greater Albuquerque Area.  That area continues to be a challenge, but we are seeing activity.  That’s why it is so important for today’s sellers in these tougher areas to be realistic about pricing and realize that they are constantly in a price war and a beauty contest. 

Maintaining our market’s consistency, we saw most of the sales in August under that $250,000 mark.  In fact 75% of sales last month were under $250,000.   22% of total sales were of homes and condos in the $250,000 to $500,000 range.  That means only 3% of sales were over $500,000. 

July 2014 Market Report

In the month of July the Greater Albuquerque Association of Realtors reported 898 closed single-family, detached homes and condos, which is an increase from June’s statistic of 871. Just about 1,000 homes are experiencing pending sales, and more than 1,700 new homes came on the market.

As usual, $250,000 and below is the hot price range.  In fact, 71% of sales were below the magic $250,000 mark, $250-$500,000 range represented 23%, leaving 6% to the upper-end market with 52 homes sold. The upper-end market just hasn’t seen the strong activity that the affordable price ranges below $250,000 have enjoyed.   Again, the under $250,000 magic market was hottest in the Northeast Heights and close-in Westside.  The outlying areas, such as the East Mountains, are experiencing the same predicament as the upper-end.. but you really never know when activity will just pick up.  In fact I just took over a listing in the east mountains a couple of weeks ago that had been on the market for 6 months with another agent… this week we received  multiple offers were able to get that home sold.  

Of course, I'm keeping a close eye on supply and demand.  As I mentioned, in the month of July we saw 1,723 new homes come on the market.  That number was nearly the same in June with 1,727 new listings.  That tells me that we are still very much in a buyer’s market with lots of homes for buyers to choose from.  As we talked about a couple of weeks ago, that means sellers have to be realistic when pricing their home in order for their property to stick out to a buyer! 

June 2014 Market Report

The Greater Albuquerque Association of Realtors has released the market statistics for the month of June, and I have to tell you, we didn't see much of a change when compared to May.  The associated reported 871 closed single-family, detached homes and condos.  That is a slight decrease from May.. but when I say slight, I really do mean slight, by only 7 homes.  A little over 1,000 homes are currently pending, meaning they’re under contract, and more than 1800 homes and condos came onto the market in June.

When talking price points, in June we saw most detached home sales under the $250,000 mark making up 66% of the total sales.  The $250 to 500,000 range represented 23%, leaving just 3% to the upper-end market with 26 homes sold. 

The Northeast Heights continues to be a hot area for sales. Unfortunately the East Mountains is not seeing the same activity as it is suffering from a lack of balance in supply and demand.  As always, I keep an eye on the supply and demand.  In May, we saw 1734 new homes hit the market. 1727 were added in June.  With more than 6200 homes & condos available right now the inventory is climbing.  While we are absorbing more recent inventory… supply and demand is still off balance with pending sales still working to keep up.