Paradise Hills Civic Association Area

Overview ─ The real estate Market trend in the Paradise Hills Civic Association (PHCA) area positively reflects that of the rest of the Greater Albuquerque Area. Albuquerque is not as adversely affected as most cities across the country and reportedly, is among the top ten most promising housing markets,  In adddition, the PHCA community is part of Northwest Albuquerque that, according to the Greater Albuquerque Association of Realtors, was one of the highest selling areas during the last quarter,

Market Activity ─ Since July 1, 83 homes were sold in the Paradise Hills Civic Association area. Currently, 118 homes are listed for sale and 13 homes are under contract, awaiting closing.

Of the 83 homes sold, 9 had 2 bedrooms, 46 had 3 bedrooms, 27 had 4 bedrooms and 1 had 5+ bedrooms. The average square footage for these homes was 2047 and the average in October (the month with the latest available official statistics) the average price of homes throughout the Greater Albuquerque area was $220,000.

The average listing price of the 13 homes under contract (pending) is $195,377. The average square footage is 1761, and the average time on the market, 75 days.

The homes actively for sale include 11 2-bedrooms, 61 3-bedrooms, 44 with 4 bedrooms and 2 2ith 5 or more bedrooms. The average price is $272, 902 and the average number of days on the market is 90. They range in size from an average of 1215 square feet for the 2-bedroom group to 2210 square feet for the 5+ bedroom group.

If your home is one of those that has been on the market beyond the average number of days for those sold or pending, you may want to review with your realtor, possible additional steps to your more attractive to potential buyers. As we approach this festive season of the year, Charles Dickens' phrase from A Christmas Carol, is relevant to our times and current market.  It may be said of the market, that it is best of times and the worst of times depending onyour perspective of buyer or seller.

We have a large inventory along with interest rates that are among the lowest in recent memory. On the other hand, we have to deal with the challenges of the economic downturn and failing lending institutions. Finding financing in the currrent market can be challenging. Despite all this, it is encouraging to remember that on  Westside Albuquerque isconsidered a hot-selling area. The statistics show it!

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