October 2016 Real Estate Market Statistics

The summary of the Greater Albuquerque area real estate market for October 2016 is out. The latest numbers show that our real estate market continues to look good with prices improving year over year, homes selling faster and inventory dropping. Here are the highlights comparing October 2016 to October 2015 and the news is all rosy. The median detached price rose 3.3 percent to $189,000 The average detached price rose 2.7 percent to $218,532 The number of new listings dropped 10.5 percent for single-family detached homes and 6.8 percent for condos, townhomes and other attached homes Overall inventory of detached […] Read more »

Albuquerque 2013 Real Estate Review

At the beginning of 2014, the Albuquerque Real Estate area has a stable 6 months supply of homes for sale. Currently there is a shortage of homes for sale throughout much of the nation. Recently I attended a conference where Dr. Lawrence Yun, a chief economist and Sr. Vice President of the National Association of Realtors, analyzed national real estate data. While the US housing market is on a slow, steady path to recovery, a number of factors, including housing supply, interest rates, & perceived economic recovery play key roles in the future of local real estate markets. Interest rates […] Read more »