Albuquerque Real Estate Market Update for Summer 2014

There are many great Albuquerque area homes for sale. Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today's market. You may also call me at (877) 933-6881 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today we're going to give you a quick update on the Albuquerque market so you know what to expect when buying or selling in the coming months. Overall, the quarterly report looks good, with the number of home sales holding steady from what we saw last year. Median sale price is also on stable ground, as we've seen a 2% increase. The most interesting part of the report is the difference between what homes are listed for and what they actually sell for - list prices are up 7% as opposed to only a 2% increase in sale price. It appears people are getting ahead of the market. While healthy, it's not quite to the extent homeowners think.

As far as foreclosed properties are concerned, we've seen some progress. The number of bank-owned homes on the market has dropped to about 15%, which is the lowest in 3 years. That's a great sign for the market, as working through that inventory will only help with the market's recovery.

I hope this bit of information has been helpful in some way. If you have any further questions, don't hesitate to call. We'd love to here from you.