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. 

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