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!