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Sandia Heights Stuff the Truck Event

by Elite Asset Management Team

Rising Home Prices Excellent News for Homeowners

by Elite Asset Management Team


Home prices have gone up recently and the reason behind it is that there are a lot more home buyers than homes that are on the market. You may be thinking that this isn’t a good thing, but it actually is.

What’s good about the increase in prices, according to CoreLogic’s US Economic Outlook, is that the average American home has gained equity over $11,000 over the course of last year. This is a national average. In Albuquerque our market average was 4.13% but the prices are area specific.

People are investing their new-found equity on themselves and on their home which is excellent. Investing it on their home is a lot better than spending it on depreciating assets.

This equity helps people put their kids through school, invest in business and even pay off their mortgages earlier.

It is predicted that home equity will appreciate by 5% next year.

Here are some stats for Albuquerque.

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

Here’s the complete Albuquerque 2016 Yearly Real Estate Summary:  2016 Market Report

If you are thinking of selling this may be a great time. First thing is to get a market analyisis to see how homes are priced in your area. Contact Pete Veres at 505-362-2005 for your free market analysis.

 

Track the Market: Get the latest market updates here: www.abqmarketinfo.com

With the free market snapshot, you’ll get real-time real estate updates sent directly to your email.

 

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.

 


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