Albuquerque’s Real Estate Market: It’s still frantic out there!
(Transcript Snippet): “Tego: It’s still pretty frantic out there in the real estate market. Is that a fair word?
Tracy: You know, Tego? I didn’t think we were going to talk about this, but let me tell you about Wednesday this week. Right? So we had, well, Wednesday and Thursday, we had four open houses, midweek for homes that had just gone on the market with us. I’m on two, three of them were in the Northeast Heights. And one was in far Northwest. We Rio Rancho on Thursday from four to six. Okay. And the Wednesday three open houses. I was at one of them and other agents from the team were at others. The house I was at had over a hundred visitors now, individual groups. Sometimes it was one person, three people formed with their realtors. Some without some have realtors, but were on their own, whatever, just coming to see the open house. Well, and it was
Tego: The first time in and we’ve been doing this, right? Yeah.
Tracy: It was the grand open house. First time anybody could see it. Yeah. I’m sure we had over 60 individual, not individual, 60 groups of people through. I mean, it was well over a hundred people at the house that I was at. The house Jane was at same thing over a, well, over a hundred people through that open house. Corey held a house open on Saint. She’s the one who started this conversation among our team. And she was like, we had over a hundred people there. I’m sure of it. So her seller went to the ring doorbell and literally counted all of the people. And the seller says they had 500 people through their house that day. Corey said it was crazy. And luckily one of our title reps stopped by to give her some bottles of water to hand out and he stayed. So she wasn’t there alone. But even though one in Northern Meadows, which is far Northwest Rio Rancho, you have to want to go there. You don’t run into those signs. Right. The reason
Tego: That one was in such high demand is it was, it was a lower price point. And definitely below the median, you know, our median is now up over $250,000. So,
Tracy: So in any event she was exceptionally well attended as well. So what, what does that mean? We still have a lot of buyers in the market. A lot of people looking for the right house. Yep. And you know, it’s interest rates are low. There’s a lot of reasons we talked about them last week,
Tego: As demand has not dropped off,
Tracy: I would say in our market, based on this week and the number of showings we’re having on houses, we’ve listed, demand is not dropping.
Tracy & Tego Venturi
Venturi Realty Group
1119 Alameda Blvd NW
Albuquerque, NM 87114