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!
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