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
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