Cheryl's on the Air with 770-KKOB-AM Radio
Home Sales: In May, a total of 997 homes and condos sold in the Greater Albuquerque Area. That's an increase from the 915 that sold in April. Not only is it an increase month to month, it’s also an increase from the 878 homes and condos that sold inMay of 2014. I also want to mention that healthy increase we are seeing in pending sales. In May, 1349 homes and condos had contracts written on them. That is nearly a 24% increase from last year, and we only expect that number to grow over this next month.
Price Points: Month after month we've seen sales $250,000 and under, account for three quarters of the total sales. Again, that was the case in May. In fact we saw 76% of total sales $250,000 and below. 20% of sales were between 250,000 and 500,000. What we did see a change in last month, was the number of sales in the upper end…that’s $500,000 and above. In May, 4% of the total sales were in the upper end. That’s up from the 3% that we are used to seeing month after month.
Inventory: In April, we experienced a significant rise in inventory with more homes coming onto the market. This month, that story has changed. In May, 1719 homes and condos were new to the market. That’s about a hundred fewer than in April. There is still a great deal of competition out there and buyers have the ability to be picky about the homes they decide to seriously consider. That’s why the pricing and marketing of your home is so important and you need to have a Realtor, like myself, on your side who knows the market well and will know how to position your home on the market in order for it to, one, net you more money, and two, get your home sold sooner.
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