Albuquerque Housing Market Soars In October 2014
Wow. the Albuquerque housing market took off in October 2014. The number of Albuquerque homes sold in October 2014 increased by 11.75% as compared to October 2013. This is the first month homes sales have increased year over year since March of this year. In fact, the Albuquerque housing market has seen increased sales for 3 months this year compared to 2013. The number of homes soled in the Albuquerque housing market has decreased in seven months this year. This is great news for home owners in Albuquerque, however one month is not a trend.
The median price of Albuquerque homes increased by 6.47% in October 2014 compared to October 2013. The median price for Albuquerque homes is $181,000 in October 2014.
The average price of Albuquerque homes increased by 5.43% in October 2014 compared to October 2013. The average price for Albuquerque homes is $219,544 in October 2014.
The average days on market for Albuquerque homes for sale decreased by 3.23% and stands at 60 days in October 2014.
The Albuquerque housing market experienced an increase in inventory by 7.58% in October 2014 compared to October 2013. The number of new listings in the Albuquerque market also increased by 11% in October 2014 compared to October 2013.
So what does all this mean for the Albuquerque housing market? October was a strong month for home sales, however, it is just one month and it is difficult to make predictions based on one data point. In addition the Albuquerque housing market historically experiences a significant reduction in home sales from November through February. The Albuquerque housing market is still solidly a buyers market. Many of the major cites in the southwest United States is experiencing a seller’s market and a shortage of inventory on the 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.