Fluctuating Albuquerque Housing Market Seeking to Rebalance



Downtown Albuquerque

 The Albuquerque NM housing market report for august 2010 reflects continuing fluctuations in inventory, sales and prices as the market seeks to rebalance and recover. Active listings have increased; pending sales, closed sales and median sale price of single-family detached homes are all down. Average sale price remains in positive territory at 4.44 percent above that of August 2009 and days on the market decreased from an average of 80 last August to 77, for August 2010.


There are 8.68 percent more active listings than there were in August 2009. (August 2009 had 5,229 single-family detached homes on the market. and August 2010 had 5,759).

Pending sales continue to decrease and in August, were at 22.11 percent below the August 2009 count.

The median price of single-family detached homes, unlike last month’s seemingly upward trend, is down 1.88 percent from one year ago (August, 2009), having decreased from $186,000 to its current  $182,500.

August sales fell throughout all of the Greater Albuquerque Southwest Multiple Listing Service areas except Corrales. Albuquerque (the most densely populated area) sold 357 detached single-family homes and 42 attached (condos and townhomes). Rio Rancho sold 99, Corrales sold 8, Bernalillo sold 2, Placitas 4, East Mountains 15, and Valencia County: 26.
Courtesy, the Greater Albuquerque Association of Realtors.