I thought it would be interesting to pull stats and learn what the top selling zip codes were in Albuquerque last month. The different Albuquerque zip codes are different in size and number of households, and to compare sales in one to another does not tell the whole story of the Albuquerque real estate market by any means. However it does lead to some fun facts and interesting conclusions. Or at least it does for a real estate stats geek like me.
Here are the three top selling zip codes (plus one runner up) for the city of Albuquerque in April 2013.
Top Selling Zip Codes
- Zip code 87114 led the way last month with 85 closed home sales. The median sales price was $179,000 and that’s for a 1,941 square foot house. None of the sales were manufactured homes or attached homes, meaning condo or townhome. The 87114 zip code includes the Ventana Ranch, Paradise Hills and Seven Bar Ranch to name a few.
- Zip code 87111 placed second with 71 home sales. Median sales price in this popular part of the northeast heights was $220,000. The average size home that sold was 1,972 square feet. There are a lot of condos and townhoms to choose from in the area. In fact, 29% of the sales were attached homes. If you remove them from consideration, the median sales price increases to $227,500.The 87111 zip code includes High Desert, Tanoan, Peppertree and some other very popular neighborhoods in the northeast heights.
- Zip code 87121 is the third top selling zip code in Albuquerque. The median sales price in southwest Albuquerque was a very affordable $115,000. That’s for a 1,633 square foot house. 87121 is located in southwest Albuquerque.
- Zip code 87120 was right behind 87121 with 69 closed home sales in April 2013. The median sales price was $161,000. Zip Code 87120 is located west of the river from I40 north to Paseo del Norte (roughly).
Homes are Selling on the West Side of the Rio Grande
I think it’s interesting to see that three out of the four top selling zip codes (considering the total number of sales anyway) are on the west side of the Rio Grande. If you look at a map of Albuquerque, you’ll see that most of Albuquerque currently lies east of the Rio Grande, so it’s a little bit surprising.
In fact, in April out of the 508 sales in the city of Albuquerque, 44% of the home sales come from the three largest west side zip codes, 87114, 87120 and 87121.
Why do home buyers like to purchase on the west side of the Rio Grande? Three reasons: newer homes, lower prices and better selection.
Those are the top selling zip codes for the month of April in terms of total home sales, check back tomorrow for the “Hottest Selling Zip Codes” in Albuquerque, areas where homes are selling the fastest.
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