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SANDIA HEIGHTS STUFF THE TRUCK EVENT

by Elite Asset Management Team

Sandia Heights Stuff the Truck Event

by Elite Asset Management Team

Albuquerque 2016 Yearly Real Estate Market Summary

by Elite Asset Management Team

The 2016 Market Statistics are in and we wanted to share those with you. Our market continues to show improvement. We are still seeing some excellent buying opportunities in some areas but inventory is dropping which means the market will start to favor sellers. Here are a few stats and if you would like the complete Albuquerque 2016 Yearly Real Estate Summary please click here: 2016 Market Report. In addition, if you would like to track the Homes for Sale, Homes Pending and Homes Sold in your Area go to www.AbqMarketinfo.com for your Free Market snapshot.

A Few Stats for the 2016 Greater Albuquerque area housing market:

The average annual sales price for single-family detached homes rose 4.13% to $224,230
The median annual sales price for single-family detached homes grew 5.42% to $189,755
The number of attached and detached home sold jumped 7.65% to 11,764 transactions this year
Inventory of the 3,247 existing homes for sale is at its lowest level since May 2006

 

Albuquerque Year End Residential Home Averages

by Elite Asset Management Team

The numbers are in for 2016. We saw a good year overall with the overall average market increase of 4.13% in residentail homes values, average home price up at $224,430. Our overall market inventory is dropping which is a good sign. We do need to remember that sales numbers are still very area specific. Most areas saw an incearse in the avergae home price but some are still adjusting. Please stay tuned for the specific area numbers coming soom. To track the price of home for sale, homes pending and homes sold in your area, go to www.AbqMarketinfo.com for your Free Market snaphot. Also feel free to call Pete Veres - Certified Residentail Specialist at 505-362-2005 for your specific questions.

Sandia Heights 2016 Market Summary

by Elite Asset Management Team

Pete Veres wanted to provide the Sandia Heights 2016 Market Summary. Sandia Heights is seeing improvement and if you would like the track the homes for sale, homes pending and homes sold, get your Free Market Snapshot by going to www.SandiaHomevalues.com If you would like a formal market analysis of your home please contact Pete at 505-362-2005.

 


ABQ’s Housing Market Trends Remain Positive in Off-Season

by Elite Asset Management Team

Albuquerque, NM  (December 12, 2016) – The Greater Albuquerque housing market has remained consistent throughout 2016.  In year-over-year comparisons, the number of homes for sale has dropped in most Central New Mexico communities while homes sold faster and for higher prices. The housing market improvements in Albuquerque have occurred with enough regularity and time to make it a trend for the entirety of 2016.

The 798 detached homes sold in November 2016 marked an 18.2 percent increase over the same period last year, and the 79 attached homes sold represented a 23.4 percent increase over 2015. Pending sales are also up 25.7 percent for detached homes and 34.3 percent for townhomes and condos, indicating that the market is not slowing down much for the market’s typical cold-weather off-season.

While the total inventory of homes for sale in the Albuquerque metro market was down again to 18.8 percent compared to the same period last year, the 979 detached homes newly-listed for sale in November represented only a 6.4 percent year-over-year decrease. Newly-listed townhomes and condos increased by 5.7 percent compared to November 2015.

The median sales price in the metro area increased 2.8 percent to $185,000 for detached homes and increased by 23.8 percent to $151,000 for townhomes and condos. The average sales price for detached homes increased by 2.7 percent to $218,795 as the average price for townhomes and condos jumped 21.4 percent to $164,526.

“Financial markets were volatile in the days surrounding the presidential election,” said Jon Schnoor, 2016 President of the Greater Albuquerque Association of Realtors. “The market has since self-corrected and reached new heights. Long-term indicators of what it will be like to have a real estate developer for a President remains unclear. Prior to the election, a national shift in housing trends was hard to come by, and unemployment rates have not budged since August 2015.” He also noted, “Post-election, mortgage rates are up and opinions in the industry are that a national, and possibly local, trend shift is likely in the near future.”

To see the full Great Albuquerque Market report for November 2016, Click Here.

Displaying blog entries 1-6 of 6

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Elite Asset Management
RE/MAX Elite
8300 Carmel Ave. NE Ste. 201
Albuquerque NM 87122
(505)362-2005
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