2021 Data: Breaking Down Albuquerque’s Real Estate Stats in the Past Year

2021 Data: Breaking Down Albuquerque’s Real Estate Stats in the Past Year

(Transcript Snippet): “Tego: Let’s just talk about some of the data from 2021, gotta get all these years. Right. I know. And they all blend together anymore. So 2021 Albuquerque area saw a, almost 3% increase in the number of homes sold, which is extraordinary. When you think about the fact that we actually had the, the, the number of homes for sale at any given time was 40%, less than 2020, which was substantial, like 40%, less than 2019. So, yeah, it’s, it’s interesting because yes, you’d think, well, there’s no homes on the market, but yet we had an increase in a number of home sold record year for a number of home sold, you know, a calendar year. So just shy of, of 15,000 homes. So that’s a lot of real estate moving through, you know, it is, and, and at the, this point, it doesn’t look like that’s slowing down maybe a little bit, you know, we kind of hope that that home prices tap a little bit, cuz we, like I’ve said earlier, we can’t have this crazy appreciation continue for much longer. The, the thing that’s interesting though. So, so we say, okay, sales are up. Number of homes on the market is way down.

Tracy:

The thing that really changed was the, the days on market and, and that’s where, so from being Available to going under contract with an accepted Offer, correct?

Tego:

Correct. So the median days on market for the entire year was four days that’s average or it’s average of the median for the entire year, if that made sense. Wow. Which, which means that that half of the homes in the Albuquerque area last year sold under, within four days, when

Tracy:

You say sold, just to be clear, you mean and had an accepted offer,

Tego:

Correct. Went under contract, went under

Tracy:

Contract. Yep. Yeah. We use this lingo and it’s, it’s confusing to me even. So

Tego:

Yeah. And, and at this point in, you know, December, and then now in January, it’s, it’s the same, you know, good homes are coming on the market, they’re selling very fast. And there’s still a lot of buyers out there waiting for homes to come on the market right now, January 2022, we’re at the lowest number of homes on the market we’ve seen, you know, going back to, I, I don’t even know when, right. We probably don’t even have data that goes back that far. So extraordinarily low number of homes on the market. So, you know, generally we see a increase in a number of homes in the market coming into like April Tracy, late February, a arch and then into April. And I would say if people are thinking of selling, you might want to think about doing it earlier, this, this time around then a little bit later, because right now the demand is still strong and the supply is very low.

Tracy:

That’s right.