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. 

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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

August 2015 Market Statistics

Sales: The Greater Albuquerque Association of Realtors released the statistics to us and as we do every month, I want to pull the most important information from those reports, the highlights if you will.  We will begin with the total number of sales that were made in the month of August.  Last month, a total of 1,034 homes and condos were SOLD.  That is an increase from August of last year by 139 sales. It was a slight decrease month to month, and we were expecting that, as we see the market begin to hit that seasonal slow down.

Price Points: Maintaining our market consistency, we experienced the majority of sales in the $250,000 and under range with 71% of sales and if you’ve listened to my market updates before, you will notice that number is lower than usual.  That’s because of an increase in sales in the $250,000 to  $500,000 range! In the month of August, that middle price point accounted for 28% of sales…about a 6% increase from what the market normally experiences.  For those with upper-end homes on the market, that’s $500,000 and above, there were only about 30 sales with 6 of those being over $750,000.  These numbers can be a little discouraging for sellers.  For homeowners who have a home in that upper end, I'll remind you of my famous slogan...selling a home in this market is a Price War and a Beauty Contest.  If your home is not priced based on what the market is dictating, then it simply will not sell.  You need an experienced high-end professional, like myself, to represent you in the sale of your home.  You need a Realtor on your side who knows how to interpret what the market is doing on a day to day basis to make sure your home competes among its top competitors.  That includes being “show ready”. Simply decluttering and deep-cleaning will do wonders for your home.

Looking to Sell? Call us today at 505-238-3272 or email cheryl@cherylmarlow.com!!! 

July 2015 Market Statistics

Sales: The Greater Albuquerque Association of Realtors has released the July market statistics and as usual, I want to start by highlighting the total number of sales that were made throughout the month.  In July, a total of 1,120 homes and condos were SOLD.  That is an increase from the 1,075 homes that sold in June. Not only did we see that month to month increase, we also were up more than 200 sales more than what sold in July of last year.

Price Points: Maintaining our market consistency, we experienced the majority of sales in the $250,000 and under range with 75% of sales.  Homes that sold between $250,000 and $500,000 accounted for 22% of sales and the upper end, that’s $500,000 and more, were just 3% of the total sales.  

Seasonal Adjustment: Many sellers get nervous around this time of year because we will see what we call a seasonal adjustment in fewer sales … and I will say it is not unique to the Albuquerque market.  Cities all across the country will begin to see the market slow down and experience fewer sales.  However, let’s not confuse that with a lack of buyers or sellers.  Homeowners still need to sell, and buyers will still be out looking.  People often ask us if they should “wait” until the market picks up to put their home up for sale, and my answer is “no”.  Instead, choose to be the seller that strategically places your home on the market, with an experienced agent like myself, while there are buyers out looking and less competition to choose from.  It’s all about your perspective and knowing that there are buyers out there and if your home isn’t on the market, they’ll never see it.

If you're looking to buy or sell a home today, or know someone who is, give my team a call at 238-1000!!  

June Market Report 2015

Cheryl's on the Air with 770 KKOB-AM Radio

Home Sales: In June, a total of 1,075 homes and condos were SOLD.  That is an increase from the 997 that sold in May. Not only is it an increase month to month, it’s also a significant jump from the 871 homes and condos that sold in June of 2014.  Last month, in detached homes alone, we experienced a 23% jump in closed sales when compared to last year.  Frankly, that’s great news for our market.

Price Point: Month to month, we've seen homes under $250,000 account for a large majority of sales. In June, however, it wasn’t as large of a chunk of sales that were used to seeing.  Where we normally see anywhere from 74% of sales $250,000 and under, last month, that price range accounted for just 71% of the total sales.  Still, that’s the mass majority of what sold.  And, while we experienced a drop in activity in that price range, we actually saw an increase in the upper end of homes $500,000 and higher.  In June, 5% of sales were in that price range.  We haven’t seen that kind of activity in the upper end all year. This activity shows us that serious buyers are out looking and making serious offers!   

More Highlights: Another highlight I want to mention is that both the average and median sales prices in June were at the highest they’ve been since 2008!  Also, inventory increased from May to June with 1,175 homes and condos entering the market with a total inventory of more than 4,500 homes available.  Based upon last month’s sales, 23% of available inventory sold. That’s 23 out of every 100 homes. That tells me that supply and demand in our market is still out of balance and even with all of the positive market signs; we remain in a buyer’s market and a price war and beauty contest. That’s why it is of the upmost importance to hire a professional, like myself and my team, to represent and guide you through the home selling or buying process! It’s imperative to have a professional on your side of any real estate transaction!

Looking to buy or sell today? Call 238-3272 or email cheryl@cherylmarlow.com.  

May Market Report 2015

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.

Looking to buy or sell today? Call 238-3272 or email cheryl@cherylmarlow.com.  

April Market Report 2015

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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