The latest Albuquerque real estate stats have been released by the Greater Albuquerque Association of Realtors and I’m pleased to announce that November was another good month for home sales in the metro area. The news was especially good for the city of Albuquerque, but less so for the outlying areas.
Albuquerque Real Estate Sales and Prices Were Up
The total number of home sales year over year have been up for over 15 consecutive months. In itself this is great news, but what Albuquerque home owners really want to see is some positive movement on sales prices.
The great news this month is that median and average home sales prices were both up.
- Total sales were up 21.02%
- The median sales price was up 3.13%
- The average sales price was up 7.12%
- The total homes for sale were down 9.38%
Home Sales Down, Prices Up in Rio Rancho
The Rio Rancho real estate market experienced different results during November. Home sales were down while sales prices were up.
- Total home sales were down 17.89%
- The median home sales price was up 5.67%.
- The average home sales price was up 3.76%.
- The total number of homes for sale were up 0.80%.
Home Sales in the Outlying Areas
East Mountain Real Estate Sales
- Total home sales were down 10.00%.
- The median home sales price was up 8.78%.
- The average home sales price was down 4.99%.
- The total number of homes currently for sale was down 3.93%
Valencia County Real Estate Sales
- Total home sales were up 13.79%.
- The median home sales price was down 4.08%.
- The average home sales price was down 11.54%.
- The total number of homes for sale were up 3.42% respectively.
Real estate stats are usually reported for the entire metro area, at least on television and radio. However, real estate is hyper local. That means that market conditions vary not only from state to state or city to city, but from neighborhood to neighborhood. That’s why I have chosen to break down the stats further, to show a clearer picture of what the market may be like in your part of town.
While these real estate stats give you an accurate picture of the market in you area, if you’re thinking of selling a home, you’ll need to break it down even further. You’ll need to look at recent sales within a one mile radius of your property address to get a rough idea of what your home may be worth.
Thinking of Selling Your Albuquerque Home?
If you are thinking of selling your home in 2013, let me know so I can show you what the recent sales look like in your immediate area. You can’t get that data anywhere online; our MLS does not let closed sales data out to websites like Zillow or Realtor.com. You can, however, get it from a licensed NM Real Estate Agent like me. Just call or text me at (505) 803-5012. At a minimum I’ll need to know these details of your property:
- Address so I can pull recent sales from around your property
- Interior square footage
- Number of bedrooms and baths
- How many cars your garage holds
- Lot size and characteristics such as corner lot, view lot, oversize lot, RV access, etc.
- Anything else that you think should affect the value of your property such as recent improvements
These Albuquerque real estate statistics were provided by the Greater Albuquerque Association of REALTORS®data on 12/11/2012. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included. To view GAAR’s monthly report click here.