Albuquerque Housing Market Statistics March 2011
Here is a summary of the Greater Albuquerque Association of Realtors monthly report. March Albuquerque housing market statistics data compared on a year over year basis brings bad news for the Albuquerque housing market and the Rio Rancho housing market. My charts at the bottom of this Albuquerque housing market statistics report have key data in red and green, Green is good for the market, Red is bad. March’s year over year comparison for the Albuquerque housing market continues to show average and median prices are falling.
The Rio Rancho housing market continues to show average and median prices are falling. Number of homes sold increased over last month which is to be expected, as the temperature increases, so does the number of home buyers. The Albuquerque housing market is being driven by three negative factors, high unemployment, tight lending standards by banks, and the high number of distressed properties for sale. This housing market will continue its downward trend until these factors improve.
Albuquerque Homes Sold
The total number of single family detached Albuquerque homes sold in March 2011 decreased by 14.09% compared to March 2010. Actual number of single family detached Albuquerque homes sold in March 2011 is 378 compared to 440 in March 2010.
Albuquerque Median Price
The median price for single family detached Albuquerque homes in March 2011 decreased by 3.79% compared to March 2010. Actual median price for single family detached Albuquerque homes sold in March 2011 is $166,000 compared to $171,500 in March 2010.
Albuquerque Average Price
The average price for single family detached Albuquerque homes in March 2011 decreased by 2.0% from March 2010. Actual average price for single family detached Albuquerque homes sold in March 2011 is $203,830 compared to $207,996 in March 2010.
Albuquerque Active Listings
The total number of active listings for single family detached Albuquerque homes in March 2011 decreased by 4.86% compared to March 2010. Total active detached single family Albuquerque homes listed in March 2011 is 2,996 compared to 3,149 in March 2010.
Albuquerque Days on Market
The average days on market for single family detached Albuquerque homes in March 2011 increased by 13.89% from March 2010. Actual average days on market for single family detached Albuquerque homes listed in March 2011 is 82 days compared to 72 days in March 2010.
Rio Rancho Housing Market Statistics
The total number of single family detached Rio Ranch homes sold in March 2011 increased by 1.66% compared to March 2010. Actual number of single family detached Rio Rancho homes sold in March 2011 is 121 versus 119 in March 2010.
Rio Rancho Median Price
The median price for single family detached Rio Rancho homes in March 2011 decreased by 9.7% compared to March 2010. Actual median price for single family detached Rio Rancho homes sold in March 2011 is $149,000 compared to $165,000 in March 2010.
Rio Rancho Average Price
The average price for single family detached Rio Rancho homes in March 2011decreased by 1.61% from March 2010. Actual average price for single family detached Rio Rancho homes sold in March 2011 is $176,777 compared to $179,670 in March 2010.
Rio Rancho Active Listings
The total number active listings for single family detached Rio Rancho homes in March 2011 decreased by 5.45% compared to March 2010. Total number of active detached single family Rio Rancho homes listed in March 2011 is 776 compared to 821 in March 2010.
Rio Rancho Days on Market
The average days on market for single family detached Rio Rancho homes in March 2011 increased by 35.82% from March 2010. Actual average days on market for single family detached Rio Rancho homes listed in March 2011 is 91 days compared to 67 days in March 2010.
For those of you that prefer to see the data in a table format I have provided that format below. Green numbers are positive trends and red numbers are negative trends.
Homes Sold
| Area Name | MLS Area | March 2010 | March 2011 | Increase (Decrease) |
| Albuquerque |
10 – 121 |
440 |
378 |
(14.09%) |
| Rio Rancho |
140 – 162 |
119 |
121 |
1.66% |
Median Price
| Area Name |
MLS Area |
March 2010 |
March 2011 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$171,500 |
$166,000 |
(3.79%) |
| Rio Rancho |
140 – 162 |
$165,000 |
$149,000 |
(9.7%) |
Average Price
| Area Name |
MLS Area |
March 2010 |
March 2011 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$207.996 |
$203,830 |
(2.0%) |
| Rio Rancho |
140 – 162 |
$179,670 |
$176,777 |
(1.61%) |
Days on Market
| Area Name |
MLS Area |
March 2010 |
March 2011 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
72 |
82 |
13.89% |
| Rio Rancho |
140 – 162 |
67 |
91 |
35.82% |
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