September 2019 Great Albuquerque Area Market Statistics

Do you like to keep an eye on the real estate market?  Here are the highlights of September from the Greater Albuquerque Association of Realtors:

(highlights are a comparison between September 2018 and September 2019)

• the median detached home price rose 12.5% to $225,000
• the average detached home price rose 8.7% to $261,356
• overall inventory of detached homes for sale decreased 30.4% to 2,384
• the number of closed sales for detached homes increased 4.3% to 1,063
• The number of detached homes going under contract rose 22.8% to 1,094
• The absorption rate is about 2.3 monts of homes on the market.

What do all of these figures mean for you?  

If you are thinking about selling NOW is the time - inventory of available homes is low and it is very much a seller's market!

Let me know if you would like a market analysis of your home and neighborhood!

Joe Brooks

505 977 3474