April 2021 Albuquerque Real Estate Market update

(Transcript Snippet): “Tracy: So Tego tell us a little bit, I know you just did a market update for 2021. I’m curious, 2021. So, the median price.
Tego: Okay. I got, I got rapid fire for you. You’re going to love this. You’re going to love this rapid fire. Okay. April, 2021. Here’s the rundown. You can also look for my video that I just did on this. It’s on my Facebook and on our YouTube, but for April average sale price, 314,787, basically 315,000 average sale price. That’s up 12% in the last 12 months. Okay. That’s March through April medium sale price, $273,000. I remember when it went over 200, not that long ago. Wow. That was a big milestone, right? Medium sale prices now to 173,500. That’s up 13% over the last
Tracy: 12 months. And tell us what median is.
Tego: Median is,uthe, the number between all the lower price homes you take. Let me, let me rephrase it. I think people remember this from,ufor math, but a median is the middle between all the higher and all the lower.
Tracy: It’s not like the middle price. Like it’s not like if the lower was to 500 in the upper was a million, it wouldn’t be 750. It’s the number of homes equal, lower than that number and the number of homes higher than that number. Correct. So I think that was about seventh grade
Tego: I think we just confused everybody. But anyway, so anyway median of 12, yeah, it’s upstairs essentially averages up substantially. And again, those move up also. Not, not just because prices go up, but also because less lower priced homes are selling more higher price homes or something. Right. Let’s keep going. Rapid fire. Hey, you interrupted average price per square foot up to $160. Tracy. Remember when things were just getting over a hundred per square foot, we’re like going, wow.
Tracy: I remember when a lot of my searches I would set up for my home buyers. I would put in a price per square foot of like 80 to 100 per square foot. And I would have a ton of houses too.
Tego: Yeah, yeah. That was back in, you know, 10, 11 up 11%, the average price per square foot over the last 12 months. And that’s that’s probably a really good indicator of overall price appreciation that number Eddie said earlier about Rio Rancho up 18% that that had to do with same month, right. April versus April. Right. So, you know, if you look at that, it’s a little different than taking the whole rolling 12 months. So number of homes on the market down below 700 in the first time ever again, all in 1930

Tracy & Tego Venturi
Venturi Realty Group
Keller Williams
1119 Alameda Blvd NW
Albuquerque, NM 87114
(505) 448-8888