Albuquerque Real Estate Market in October

The official sales report has not been issued by the Greater Albuquerque Association of Realtors yet, but as always I'm anxious to know the market conditions so I've pulled some preliminary numbers. What can I say, I'm a real estate "stats junkie."

Albuquerque Home Sales

Closed home sales were up considerably from this time last year. In October 2011, 437 closed sales were reported in the city of Albuquerque. So far, with not all sales reported yet, there have been 535 closed sales reported on October 2012. That's almost a 20% increase. 

Closed short sales appear to have increased somewhat too, and REO sales or bank owned home sales were up even more.

Rio Rancho Home Sales

Rio Rancho home sales appear not to have done quite as well. Not all home sales have been reported, that usually takes a few more days to happen, but as of right now it looks like home sales in Rio Rancho will be only slightly improved over last year. ONLY SLIGHTLY IMPROVED! The key word here is IMPROVED!

Outlying Areas

Sales in the outlying areas of Albuquerque appear to be mixed, with sales up in Corrales and Los Lunas, but sales appear to be flat in Placitas and the East Mountains.

Of course home sales in the Albuquerque Metro Area have been improving for the last year. What will be really interesting to see is what home sales prices have done over the last year. But for that we'll have to wait a few more days!

 Check back soon for a full report once the official nubers have been released, usually aorun the 10th of the month. In the meantime, to view market reports for your Albuquerque neighborhood, please visit my all stats website.