Running the numbers: The most expensive and the most affordable places in Albuquerque

Running the numbers: The most expensive and the most affordable places in Albuquerque

(Transcript Snippet): “Tego:
Um, anyway, so Tracy, um, we were talking about, you know, okay. These different parts of Albuquerque, I saw a national story. It was talking about, you know, what are the most expensive places in the country. Right. And I’m like, well, okay, well, let’s, you know, you, and I know this, but I bet people are curious, what are the most expensive parts of Albuquerque? You know, where are the most expensive homes? And we could also talk about where the most least expensive homes as well. And so, uh, I ran the numbers and I’m sure you probably know,

Tracy:
I haven’t seen the numbers, but I could guess I know we always like that. So I’m going to say, well, most expensive, a couple things come to mind right. Far Northeast Corollas plus Cetus

Tego:
Yep. Good Job

Tracy:
So 87122, 87048

Tego:
So 87122. If people aren’t familiar with it, that is the area that is basically north Albuquerque acres and San Diaz height, right? Yep. Um, the, uh, the next one is a 7 0 4 8, which

Tracy:
Pirellis the next one is 043 Placidas

Tego:
Placidas is next. Yep. And then, um, well, 043 and then 047, which is, uh, eastbound.

Tracy:
Yeah, that’s north 14 up a ways. Not, not Cedar crest to Harris, but San park

Tego:
And then 87008, which is a old town I believe now. Oh my gosh. Now I feel,

Tracy:
I was going to say, oh

Tego:
Wow. Now I found it really silly. Um, oh, oh, I’m sorry. That’s that’s Cedar crest. I’m sorry. That’s why. Yeah. Yeah. So it’s these mountains also. Um, and then, uh, yeah, so, um, and then ACM 059 also, um, uh, east mountains. Yup. Yup. And then 87111, which is what we consider the kind of a traditional far Northeast Heights, you know, that’s like Tatooine and in everything around there,

Tracy:
Quavis school

Tego:
District, north of Montgomery. Yeah, exactly. Yeah. So yeah, it’s, it’s pretty interesting. And then we get into the north valley, um, and, and, uh, just kind of on down the list then like 87114 which is the north west, you know, paradise Hills, uh, T uh, my, on that really tailored ranch, I guess, but mostly paradise Hills, some of the newer areas. So yeah, it’s interesting, you know, it, it definitely seems, and I, I think we see that, right. Tracy has, we’re, we’re looking around the city, you know, there are certain pockets where there’s some, you know, very expensive homes, north valley, um, far, far Northeast Heights, San Diego, San Diego, um, um, Sandia Heights, north Albuquerque acres. So yeah, very, very interesting. If we look at the most active, uh, uh, zip codes and know, you know, the most number as in the most sales, it’s interesting because

Tracy:
This

Tego:
Rio Rancho, yeah. This year, it was north Rio Rancho with, uh, over 1600 homes year to date through.

Tracy:
Interesting. And second is, uh, 87120, which is, um, Southwest and a little bit over I, 40 west of

Tego:
We’re still considered Northwest, but it’s just a one, two. Oh, oh, I’m thinking of one to one. Yeah. Yeah. Got it.

Tracy:
Got it. Southwest and a little bit over I 40.

Tego:
Yeah. So, and then 87144. So you think about, you know, the areas where there is a lot of homes, right?

Tracy:
114, yeah. Northwest and then south Rio Rancho. So yeah, so those are all very hot and in a lot of newer neighborhoods, you know, in the last 20 years in those areas.

Tego:
Sure. And when we look at, you know, the, the buyer’s market versus sellers market, and, you know, what are the hottest zip codes in town? Uh, what we see are the zip codes of like 87120. And, you know, again, it’s these places where the prices are a little more moderate, right. Are going to be the, the, the most active you’re going to see the most competition for homes that come on the market. Right. Right.

Tracy:
And of course, if you think of a pyramid right. Of, of our home prices, the highest price homes we’re going to are going to be the least amount of sales. Right. Right. And the ones that are most affordable, obviously there’ll be the most or bulk of the sales. So it only makes sense for, for sure. For sure. We don’t have to be like really smart to figure that out.

Tego:
Yeah, yeah, yeah, no, that’s for sure.