April 2016 Market Statistics

SALES:  In April there were 1038 homes and condos sold. That’s an increase from the 977 homes and condos sold in March and also a 10% increase of detached home sales from the same time last year.

PRICE POINTS:  Maintaining our market consistency, most of last month’s sales were in the more affordable range of $250,000 and below accounting for 74% of the total sales. 23% of sales were in the $250,000-500,000 range and just 3% of sales were in the upper end market… that’s $500,000 and up.

PROPERTY VALUES:  Values are slightly increasing.  In fact the average sales price in April was just over $217,000. That’s an increase from the average of $210,000 in 2015… a positive highlight to pull from last month’s market report as it gives sellers an idea on how prices are faring in today’s market.

FEATURED PROPERTY:  We have a fabulous 2700 square foot, 4 bedroom, 3 bath home in Ventana Ranch at just $235,000.  Call my team today if you would like to schedule a viewing!

IF YOU'RE LOOKING TO BUY OR SELL, CALL US TODAY!!

505-238-1000

March 2016 Market Statistics

SALES: In March 977 homes and condos sold. That’s up from the 718 sales in February and also up 12% from March of last year. Another great highlight is in pending sales. A home goes pending when a contract is written and agreed upon by both buyer and seller. Pending sales were up 11% from 2015. That shows we’re seeing more activity.

DAYS ON MARKET: In March, homes were on the market for an average of 62 days. That’s down from February and also down from March of last year where homes were on the market for an average of about 75 days.  We are seeing condos stick on the market a little bit longer than detached homes, but not by much.

PRICE POINTS: Last month was typical in terms of what price ranges are selling. Maintaining our market consistency, about 75% of the total sales were of homes $250,000 and below. 22% of sales were in the $250,000-500,000 range and just 3% of sales were in the upper end market… that’s $500,000 and up. 

HOW WE CAN HELP:  I know I mentioned it a couple weeks ago, and I’ll say it again, the market is heating up. My team alone has been in several multiple offer situations on the buyer and seller side and I can’t stress enough the importance of having a professional on your side when in a multiple offer situation. A professional, like myself, will help you navigate every aspect of what can be at times a grueling sales process.

IF YOU'RE LOOKING TO BUY OR SELL TODAY, CALL US AT 505-238-1000

February 2016 Market Statistics

HIGHLIGHTS AND SALES:  Each month I pull what I feel are the highlights from the market report.  As per usual, let’s begin with the total number of sales of what we call detached and attached homes.  You probably know them better simply as homes and condos, and in February we saw 718 total sales.  That’s slightly up from the month of January, AND we are still seeing that upward trend in sales in general when compared to 2015.

ABSORPTION RATE:  I really want to touch on what we call Absorption Rates.  Simply, it measures how long it will take to exhaust or sell the current housing inventory.  In the Greater Albuquerque Area last month, we had a rate of 3.7 meaning it would take just under 4 months for the current inventory to sell.

INVENTORY:  In February, there were 3,426 homes and condos available.  That is down from the around 4,000 that were available in 2015. We will, however, see inventory begin to increase as we get into the warmer months.

INCREASE IN ACTIVITY:  I was talking with my team yesterday and one of my buyer’s agents was telling the team how she’s been in a multiple offer situation a few times this month already.  People are serious about buying and if you know how to prepare your home for the market and price it right, your home will sell.

IF YOU'RE LOOKING TO BUY OR SELL A HOME... CALL US TODAY! 505-238-1000

January 2016 Market Statistics

JANUARY HIGHLIGHTS: Let’s go over the highlights from last month’s report from the Greater Albuquerque Association of Realtors. It’s important to always start with the total number of homes and condos sold as that will give us a pretty good gauge on where we stand in regards to overall market health. 

SALES:  Last month we saw a total of 693 homes and condos sell in the Greater Albuquerque Area.  That is a decrease from December by about 200 units. And while we experienced a slight increase in sales when compared to January of 2015, it was not by much. We can take into consideration several “life” factors when looking at the decrease in January, especially with families gearing up to send kids back to school and getting rest from what can be, for a lot of people, a crazy holiday season.

PRICE POINTS:  As usual, we experienced the majority of sales in the $250,000 and under price point. Last month that accounted for 74% of the total sales. 22% of sales were in the $250,000 to $500,000 range and we did see a slight increase in sales of upper-end homes with 4% of the total sales in that range.

FEBRUARY FORECAST:  I was looking at the numbers and so far in the month of February, we have averaged about 16 homes selling a day with a total of 257 selling so far this month. Here’s the big number though… 596. That’s how many homes and condos have gone under contract since the beginning of this month. That’s a great number. 

CALL US TODAY IF YOU WOULD LIKE TO BUY OR SELL A HOME!! 505-238-1000

December 2015 Market Statistics

SALES: I’ve looked over the statistics thoroughly and believe it or not, the Greater Albuquerque Area saw more sales in December than in November.  Here are some of the highlights.  In December 727 homes and condos sold.  That’s compared to the 658 that sold in November. Not only did we see the number jump from month to month…it’s also an increase from what we saw sell in December of last year.   

UPPER END ACTIVITY?: I may sound like a broken record, but our market truly is consistent month to month when it comes to activity in certain price ranges.  In December we saw just 3% of sales above $500,000.  22% were of homes and condos between $250,000 and $500,000 and of course we saw a large majority of sales in that magic mark of $250,000 and below.   

MARKET ACTIVITY:  We’ve already seen a lot of activity in January.  I’ll give you a snapshot of what’s already happened.  In just the first few weeks of the New Year, 282 homes and condos sold and 557 have contracts written on them.  Buyers are out there looking and serious buyers are making offers.  If you’re a homeowner on the fence about selling, now is time to get in the game before we see a huge influx of inventory in the early spring.  Less competition means more activity for your home and could ultimately mean a sale.

CALL US TODAY FOR A FREE HOME CONSULTATION!

505-238-1000

November 2015 Market Statistics

SALES: The Greater Albuquerque Association of Realtors released the statistics to us last week.  As I do every month, I want to highlight the important numbers for you and show you how we are comparing to the months past and also year to year.  Last month we saw a total of 714 homes and condos sell in the Greater Albuquerque Area.  That is an increase from the 658 that sold in November of last year and as expected, a decrease from what sold in October as a part of the seasonal slowdown.  If you’ll remember what I mentioned last week though, homes are selling right now at a rate of around 25 every day. That means serious buyers are out looking and ready to make a purchase!

PRICE POINTS: Maintaining our market consistency, we experienced the majority of sales in the $250,000 and under range with 76% of the total sales in that price point.  21% of sales were in the $250,000 to  $500,000 range and  3% of sales were of upper-end homes on the market, that’s $500,000 and above. 

CALL US TODAY FOR A FREE HOME CONSULTATION!

505-238-1000

September 2015 Market Statistics

SALES: I want to begin with the highlights from last month’s market report, most importantly the number of homes that sold. In September, a total of 977 homes and condos sold.  Last month when we talked statistics, I mentioned that we would begin to hit a seasonal slow down and September’s numbers show that is happening. Sales were down from the 1,034 homes and condos that sold in August. I choose, however, to focus on the increase we experienced this September, when compared to last September when just 776 homes and condos were sold. That’s a year to year increase of more than 200 units and a Win for our market!

PRICE POINT: Every month, we see the majority of the sales in the Greater Albuquerque Area under $250,000.  In fact last month that price range accounted for 73% of the total sales and 23% of sales were from $250,000 to $500,000.  We did see a small jump in activity in the upper end last month with 5% of the total sales of homes in excess of $500,000.

WHAT DOES IT MEAN FOR YOU?: I can’t tell you how many times I’ve heard the comments about right now being a “bad time to sell” or “I think we’ll leave our home off the market for now and put it back up in the Spring.”  The fact is Bob, serious buyers are out looking this time of year and homes are selling. At the end of the day, if your home isn’t on the market, then it won’t sell. Let me give you an example of what’s happening in our market right now.  So far this month, 620 contracts have been written in the Greater Albuquerque Area… 620!!  If your home shows well and is priced right, it WILL SELL and my team and I would love to help you make that happen!

Call us today for a free home consultation! 
505-238-1000