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
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