I’m proud to present my Albuquerque Foreclosure and Short Sale Report for December 2011. I’m disappointed to write that I will no longer be able to publish any data about short sales since this field is considered confidential by Southwest MLS. Instead, I will lump short sales and foreclosure information together as “distressed” sales.
If you are considering buying or selling real estate in the Albuquerque or Rio Rancho area, please contact me and I will be happy to provide you with specific stats for your Albuquerque neighborhood, including all the short sale stats you want.
December Home Sales
31.1% of December home sales were REO/Bank Owned/Foreclosure or short sales.
The graph below illustrates the ratio of distressed property sales to regular sales.
Foreclosure Sales by MLS Map Area
As usual, the majority of foreclosure sales were on the west side. MLS Areas 92 (Southwest Heights), 111 (Ladera Heights) and 120 (Ventana Ranch) led the pack. MLS Area 92 had nearly twice the bank owned sales of the other leading areas. MLS Area 50 (Northeast Heights) also experienced a high number for bank owned sales.
Here’s a breakdown of November Foreclosure/REO sales by MLS area:
Please check back next month for more Foreclosure and short sale stats.
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These statistics were compiled from Greater Albuquerque Association of REALTORS®data on 01/21/2012. Check our GAAR’s comprehensive market report here.