December 2018 Greater Albuquerque Area Stats

Do you like to keep an eye on the real estate market.  Below is some data from the Greater Albuquerque Association of Realtors.

Highlights (the highlights are a comparison between December 2017 and December 2018)

• the median detached home price rose 8.3 percent to $209,950
• the average detached home price rose 6.9 percent to $246,348
• overall inventory of detached homes for sale decreased  16.6 percent to 2,562
• the number of closed sales for detached homes decreased 7.2 percent to 845
• the number of detached homes going under contract rose 22.1 percent to 796

So the absorption rate is about 2 months of homes on the market.  

What does that mean for you?  

If your thinking about selling NOW is the time with the supply down.

Let me know if you want a picture of your neighborhood and a market analysis of your home.

Joe Brooks

505 977 3474