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.