Housing market in Albuquerque on the rise

Posted: 07/27/2018 / 5:07 PM MDTUpdated: 07/27/2018 / 17:07 MDT

It took a decade, but the Albuquerque housing market has finally recovered. The latest real estate report shows that sales prices have rebounded after the 2008 crash.

Experts say the housing market is looking better than it has been in years.

“The market is strong, the economy is really growing. The economy is stable, it is a good time to take this step, ”said John Lopez, Greater Albuquerque Association of Realtors. “We never know what tomorrow will bring. So if you are thinking of upgrading or reducing the size, give your agent a call. “

Finally see the light of day. This is what real estate agents say about the housing situation in Albuquerque.

There were 3,500 homes on Friday morning – a 15 percent decrease from that time last year.

This means that the inventory is low, which is causing the price to go up. The average home sales price is just over $ 212,000. The last time it was this high was in 2007.

KRQE News 13 spoke to a man who has just bought and sold a home, he says it is definitely a sellers’ market.

“We had three families visiting the house and as a result we received three offers at or above the asking price for the house,” said Anthony Sanchez, Albuquerque resident. “I mean, it was sold after two days.”

The average property stays in the market for 40 days, according to the Greater Albuquerque Brokers’ Association. Brokers say the seller’s market won’t last forever.

Those sales include Albuquerque and Rio Rancho. The median sales price for a home in the area is $ 244,000.

Comments are closed.