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Thursday, May 17, 2012

Is The Albuquerque Real Estate Recovery Happening?

Looking at home statistics shows alarmingly positive movement compared to what analysts predicted the home recovery would look like. I checked out the Southwest MLS today and pulled these stats from the trends section. I looked within Albuquerque but also trended short sales to how that market is changing.

TRENDS FROM THE ALBUQUERQUE REGION MLS: ONE YEAR LOOK MAY 2011 - MAY 2012

Homes For Sale:  -26.7% (change from last year at the same time)

Homes Sold: 8.6% upwards

Homes Pended:  26.9% upwards

Avg Days On Market:  79  days (-2.5)

Avg Active Price:  275 (+4.2)

Avg Sold Price:  203 (+6.8)

Months of Inventory Closed Sales:  -33.3%

Short Sales:  -21.4%

Short Sales Sold:  +56.7%

So for those of you who are analyzing the market waiting for the bottom, here is what this all means. From a year ago, homes are selling more quickly, for more money in less time. Meanwhile our inventory is shrinking and home prices are rising. As Martha would say \"it\'s a good thing.\"

 

 Best Contact: 505-980-7788    EMAIL

Jim Gross -- Keller Williams Realty, Albuquerque NM

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