Weekly Look at the Albuquerque Housing Market – July 10, 2023
TLDR: The housing market in Albuquerque is currently stable and favoring sellers, with high median home prices and a low inventory of homes available.
1. 🏠 The weekly data on the Albuquerque real estate market shows the trends in active inventory and pricing for single family detached homes in the area.
2. 📈 The housing market in Albuquerque is still a seller’s market due to the low number of homes available.
3. 💰 Median home prices in Albuquerque are at a high level, with new listings also increasing in price, and the average price per square foot remains relatively high.
4. 📈 The housing market in Albuquerque is currently stable with no indication of a significant price pullback, as the median days on market remain low and the inventory of homes on the market has slightly increased since April.
5. 🏡 The housing market in Albuquerque is potentially experiencing a plateau, with a potential increase in the number of homes on the market and a fluctuation in properties with price decreases.
6. 🏠 About 30-32% of active homes on the market in Albuquerque have had a price reduction, which is similar to last year and lower than 2019, indicating no distress in the market for sellers.
7. 🏡 Homes in the lower price range are selling quickly, while the number of homes coming on and off the market varies depending on the price range.
8. 🏡 Median days on the market for resale homes in Albuquerque in June was four days, indicating a fast-paced housing market.
Summary for https://youtu.be/UZ10aMQD4_I