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October Market Report- Financial Crisis ─ No problem for Albuquerque NM Real Estate Market

Northeast Heights House The Greater Albuquerque real estate market remains humdrum with hardly any change since last month or the past ten months, for that matter. The inventory of homes although slightly lower, continues to hover around the 6,000 mark (almost three times the size of that of last October). The average price remains close to $220,000 and the median $189,000. Sales volume was slightly lower than last month (September) but was perhaps more a reflection of seasonal change.

The Southwest Heights, the Northeast Heights, and the Paradise West area of the Northwest Heights were the top selling areas for November with 46, 41, and 38 homes sold for each area respectively, and the number of days on the market was hardly changed at an average of 72 days. The top selling price range continues to be $240,000 to $249,000.

Essentially, the ripple effect continues in our Northwest Heights Home real estate market and we see no jolting changes in any watch area. The Greater Albuquerque area may after all be holding steady to fulfill the Forbes Magazine prediction of the area being poised to be #1 for real estate market recovery.

Greater Albuquerque Association of Realtors

Eloise Gift

Eloise Gift, CRS
Gift Realty NM
Your Gift For Real Estate - Your Gift For All Seasons
www.eloisegift.com
505-363-5156

Posted by Eloise Gift, New Mexico Real Estate on 11/12/2008 10:05 PM

Comments (5)

Market Update in the Regional (Localism) Channel

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5 Comments on October Market Report- Financial Crisis ─ No problem for Albuquerque NM Real Estate Market

NOV

2008

I love your last line. The Greater Albuquerque area may after all be holding steady to fulfill the Forbes Magazine prediction of the area being poised to be #1 for real estate market recovery.

Just need a few more people to have an optomistic attitude!

Tami- Thanks for letting me know that we have optimism in common. I am depending on that in part to help power through this shift in the market. Thanks for stopping by.

Eloise, I just saw this mentioned on TV--I wish I remembered what channel but they were speaking of a stable market in Albuquerque--and I thought of you!

Eloise, I hope that what is being predicted for Albuquerque becomes a fact. Every Market in the Country would love to have that recognition.

Hi Carole- Thanks for thinking of me. Interestingly, I thought about you this evening when someone at a gathering asked if the green building we were touring had been feng shuied. Your branding is complete. I hear feng shui and I immediately think of you and see you on AR.

We repeat and hang on to every bit of news that is positive. We are willing our way out of the shift.

Hi George- Whsat we know is that the market will bound back for every region. It is just a matter of when. I am convinced of it. I miss your posts. Thanks for commenting.

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