Looking at Albuquerque 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 see 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.\"
Contact: 505-980-7788 EMAIL
Jim Gross -- Keller Williams Realty, Albuquerque NM
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