What’s Going on in Our Albuquerque Real Estate Market?

Albuquerque, NM Real Estate Podcast with The Venturi Team

Contrary to popular belief, the Albuquerque real estate market isn’t slowing down one bit. Here’s what you need to know about current conditions.

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We recently participated in an interview where we talked about how the real estate market is doing around this time of the year.

From what we see, the market is still very healthy. In August, our total number of sales was up from the previous year. Although there are some news reports out there saying things have slowed down, it doesn’t mean we aren’t still an active market. We’ve just slowed down from the frenetic pace we saw this spring and summer.

If you look at the charts for closed sales and homes for sale, which show a 10-year trend of closed sales and a 10-year trend of homes for sale, we see that the market consistently peaks during the summer months. For example, in May and June of last year, we saw over 1,300 homes sell each month. This year, we peaked out in May with about 1,360 homes. This chart also shows that we see this happen every year, hitting our low months in January and February, then steadily rising through the spring and summer.

What we’re seeing year over year is a trend of more homes selling overall since the market bottomed out in 2011. The slowdown we’re seeing is typical of this time of year.

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Sales are still up 7% from last year
and show no signs of slowing down.

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For homeowners who are in the market to sell, it’s important to know that homes are still selling and buyers still need to buy homes. If you need to sell as we head into the fall season, we can help get your home staged, marketed, and presented in its best light to the buyer pool that’s out there. People will still continue to buy all through the winter months as well.

As far as homebuyers are concerned, it’s important that you know what’s important to you, what your needs are, and what your financial picture looks like. Then we can discuss your options before we start looking at houses. It’s important to have that conversation so you can best meet your goals.

Finally, we just wanted to make sure we mentioned that although you might be hearing that the market is slowing down, if you look at the data you can see that it’s not. Sales are still up 7% from last year and things don’t seem to be slowing down at all.

If you have any questions in the meantime about the market or about anything else related to real estate, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.