Albuquerque Housing Market Down In September 2014
The Albuquerque housing market is down in September 2014 in most measures. Home sales in the Albuquerque housing market were down by 8.12% compared to September 2013. The number of homes sold in September 2014 declined to 475 homes compared to 517 homes in September 2013. This is the sixth straight month the number of homes sold has declined compared to 2013. In fact January and March of 2014 are the only two months the number of home sales increased in the Albuquerque housing market in 2014 compared to 2013.
In addition to declining sales numbers, the inventory of homes for sale in the Albuquerque housing market increased by 10.39% compared to September 2013. There were 2,889 homes on the market in September 2014 compared to 2,617 homes on the market in September 2013.
The number of new listings that came on the Albuquerque housing market in September 2014 increased by 10.63% compared to September 2013. The number of new listings on the market was 874 in September of 2014 compared to 790 new listings in September 2013.
The median price of Albuquerque homes remained flat at $190,000 in September 2014 compared to September 2013. The median price for homes is the Albuquerque housing market is $190,000 in September 2014.
The average price of Albuquerque homes decreased slightly by .55% in September 2014 compared to September 2013. The average price for Albuquerque homes is $214,924 in September 2014 compared to $216.102 in September 2013.
The average days on market for Albuquerque homes for sale increased by 11.11% and stands at 60 days in September 2014.
There are a lot of numbers to analyze to determine what is going on in the Albuquerque housing market. In September, 475 homes were sold and 874 new listings came on the market. It is clear there are more sellers this year and less buyers in the market when compared to last year.
It is clear buyers are in control of this market and have bargaining power over sellers. This is a great time to be buying a home, be patient, find the right home and remember you are in the best negotiating position.
If you are selling your home, you need to put a great product on the market and price it correctly in order to get the home sold.
Good luck to all home buyers and home sellers in the Albuquerque housing market!
Myers & Myers – Albuquerque Real Estate Specialists – Call Today! (505) 401-7500
For buyers, our foremost goal is to provide you with exceptional customer service and assist you in finding the right home in the right neighborhood. Our goals are to help you purchase the right home, make sure you don’t miss out on any homes that meet your needs, and make sure you don’t pay too much for your next home. Please utilize our Albuquerque real estate expertise to make your home search and buying experience as stress free and rewarding as possible.
If you considering selling your Albuquerque home, we utilize the latest, cutting-edge, real estate marketing tools to expose your property to the widest range of potential buyers. We are here to get your Albuquerque home for sale aggressively marketed to sell as quickly as possible and for the best price! Our goals are to help you get your home sold and get you where you want to go on time, put you in the strongest negotiating position as possible, and to make it easier for you and reduce surprises.
Our extensive knowledge of the Albuquerque real estate market allows us to guide our clients intelligently. Whether you are looking to buy, sell or invest, our mission is to provide you with exceptional customer service and assist you throughout the entire transaction.
Please call us today or fill out the online contact form,. Let us know how we can best serve your Albuquerque real estate needs. We look forward to speaking with you!
John Myers, Owner and Qualifying Broker
Myers & Myers Real Estate
Office: 505 401-7500
Map of Albuquerque, New Mexico
All data is taken from the Greater Association of Albuquerque of Realtors monthly market statistics.