Home Prices Increasing In Albuquerque January 2019

By
Real Estate Agent with Myers & Myers Real Estate, Inc 19085

 

Albuquerque Housing Market January 2019

I am always asked how the real estate market in Albuquerque New Mexico is performing.  I always ask this question before answering, are you buying or selling?   Here is a summary of the month of January.  Home prices were very strong, average sale price increase by 14.5% and the median sale price increased by a solid 5.8%.  The large increase in the average sales price was influenced by a few very expensive homes that closed in January.  The only negative measurement in this reports is home sales increased by a measly 1%.  However, this could be a result of the low inventory.  Inventory for the month fell by 18.9%.  Please note all these stats above are a year over year comparison.

 

Albuquerque Housing Prices

Albuquerque Metro area median home prices increased by 5.8 percent to $200,000 in January 2019. The year to date median home price in Albuquerque NM is $200,000 which is an increase of 5.8 percent compared to 2017.

The average home price in Albuquerque increased to $249,755 in January 2019 which is an increase of 14.5 percent over January 2017 compared to 2017. The year to date average home price in Albuquerque NM is $249,755 which is an increase of 14.9 percent compared to 2017.

Albuquerque Real Estate Days On Market

Days on market is defined as the number of days from the time the home is placed on the market until the day the home is placed in the pending status (seller has accepted an offer).

The days on market in January 2019 decreased to 51 days which is a decrease of 10.5 percent compared to January 2017. The days on market year to date as of January 2019 decreased to 51 days which is a decrease of 10.5 percent compared to year to date as of January 2017.

Housing Inventory In Albuquerque NM The inventory of homes for sale in the Albuquerque NM  metro area declined to 2,449 homes in January 2019 which is a decline of 18.9 percent compared to January 2017.

 

Housing Inventory In Albuquerque NM

The inventory of homes for sale in the Albuquerque NM  metro area declined to 2,449 homes in January 2019 which is a decline of 18.9 percent compared to January 2017.

 

Real Estate Sales In Albuquerque NM

The number of homes that sold in the month of January 2019 was 741 which is an increase of 1.0 percent compared to January 2017. The number of homes that sold year to date as of January 2019 is 741 which is an increase of 1.0 percent compared to January 2017.

Pending sales are defined as the seller has accepted an offer from a buyer and the home is taken off the market. The number of homes that went into pending in January 2019 is 1022 which is an increase of 12.8 percent compared to January 2017. The number of homes that went into pending year to date as of January 2019 is 1,022 which is an increase of 12.8 percent compared to year to date as of January 2017.

Albuquerque NM Absorption Rate

The absorption rate is defined as the number of months it would take to sell the current inventory if the number of homes sold continued. A lower number means the market is tight and homes are selling fast. The absorption rate in Albuquerque for January 2019 was 2.4 which is a decrease of 22.6 percent compared to January 2017.

Myers & Myers Real Estate is the Albuquerque real estate experts headquartered in Albuquerque New Mexico. We are a full service real estate brokerage and we help home buyers and sellers in the Albuquerque Metro area. 

All data comes from the Greater Albuquerque Association of Realtors monthly real estate market overview.

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Rainmaker
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Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you get many of these properties listed and sold.

Feb 15, 2019 08:45 PM #1
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