Published November 26, 2019
A Quick Market Update for You
The latest numbers show that our market is great for sellers. Here’s how.
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The latest numbers are in for our real estate market and I’m excited to share them with you today.
Right now, we have about 2,300 homes on the market. This is down by about 29% from where we were last year. We have 12,778 new listings, which is down by 2.7%. Pending homes, however, are on the rise. We also saw 1,125 pending sales in October, which is up by 19.2% from last year.
Our absorption rate right now is at about 2.2 months. This means that we would sell all the homes on our market within 2.2 months if no new homes were listed. An average is about six months, so this means we are in a pretty strong seller's market right now.
Pending homes are on the rise.
If you want to know how your home fits into these numbers, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.
Joe Brooks
| Brooks Real Estate Group | Keller Williams Realty | Albuquerque
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