Home sales were up slightly even as the normal seasonal real estate slowdown set in. Pricing may be making slight improvements, although it’s too early to know for sure, and the months of home inventory stat continues to grow.
Albuquerque’s Northwest Heights area covers most of zip code 87120 and includes the popular Taylor Ranch neighborhood.
Northwest Heights Quick Stats
Here’s what sold in the Northwest Heights last month:
|Total Detached Sales||32|
|Price Range||$88,945 to $590,000|
|Average Sales Price||$195,196|
|Median Sales Price||$162,750|
Home Sales Down, Pending Sales Strong
Home sales are slowing down as fall weather settles in. Home sales were up slightly from August 2011, but down considerably from July. Pending home sales were strong, however, with 39 homes under contract and moving toward closing.
Price Per Square Foot Recovering?
Home sales have been strong for almost a year, so it makes sense that at some point we will see some positive movement in pricing. The average price per square over the last 13 months was $100, over the last 6 months $101, and over the last 3 months increased to $103, so if we look at the numbers that way, it looks like prices are beginning to climb.
Housing Inventory Growing
As home sales decrease, the months of inventory stat grows. This would appear to be normal seasonal change that happens almost every fall.
Please check back next month for more Northwest Heights real estate stats.
by Rich Cederberg, Albuquerque real estate agent. Please call or text (505) 803-5012 for more information.
Check out my Albuquerque Neighborhoods page for information about other great areas of Albuquerque.
Stats junkie? Check out AlbuquerqueRealEstateStats.com to learn more about the Albuquerque Real Estate Market.
These Northwest Heights real estate statistics were compiled from the Greater Albuquerque Association of REALTORS®data on 10/06/2012. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.