Albuquerque Housing Market Statistics Average Housing Prices Soar 12.45% January 2014
Wow check out that headline, yes the average sales price of a home in Albuquerque increased by 12.45% in January 2014 compared to 2015. Most of the news for home sellers and home owners was very positive. However, the news for pending homes sales is a bit concerning.
Albuquerque Housing Market Stastics Home Pricing January 2014
The Albuquerque average sales price of homes increased by an unbelievable 12,45% to $208,880 in January 2014 compared to $185,750 in January 2013. This is a significant increase, however no so impressive when you look at the average price of homes in December 2013 was $221,213. The main reason for the large increase in average homes sales in January 2014 is due to a really bad month in January 2013.
The median sales price of Albuquerque homes increased 6.88% to $171,000 in January 2014 compared to $160,000 in January 2013.
Albuquerque Housing Market Statistics Homes Sales January 2014
The number of Albuquerque New Mexico homes sold increased by 12.34% to 355 homes in January 2014 compared to 316 homes in January 2013.
The number of Albuquerque New Mexico homes pended declined by 20.09% to 513 in January 2014 compared to 642 homes in January 2013. Pended homes is defined as the buyer and seller have agreed to terms on the sale of the home. However, the transaction is not complete and is an indicator to future home sales in Albuquerque. This is clearly a sign the number of homes sold will slow down next month.
Albuquerque Housing Market Statistics Home Inventory January 2014
The total inventory of homes for sale in Albuquerque increased by 11.00% to 2,230 in January 2014 compared to 2,009 in January 2013.
The number of new Albuquerque NM homes for sale increased by 2.9% to 815 in January 2014 compared to 792 in January 2013.
The Albuquerque housing market experienced a huge increase in the number of homes on the market, and a slight increase in the number of new listings, and a reduction in the number of homes sold in January 2014. This is good news for home buyers and bad news for sellers of homes.
The number of days on market to sell a home in Albuquerque increased by a whopping 22.95% to 75 days in January 2014 compared to 61 days in January 2013.
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.