Stats: What’s going on in the Real Estate Market in Albuquerque

(Transcript Snippet): “Tego: Tracy, I wanted to start off with just, just the pulse on what’s going on in real estate market here in Albuquerque. If, if you’ve been listening, you know, we’ve been talking about how kind of, I know that the, the, the term everybody’s using is how crazy the real estate market is in Albuquerque and it’s, and it’s everywhere. It’s not just Albuquerque is an entire country. And just to kind of give a feel and, and then we’re going to talk about this whole buyer fatigue kind of thing. Tracy, you did a video that, that we’re, we’re sending out just talking to buyers about, okay, it’s hard, it’s difficult. However, it’s worth it. It’s worth it. And let’s, and we’re going to go through the reason why it’s worth it and, and, and really helping buyers discover their why on home ownership. So, but first off, just some stats. Tracy: I know Stat-O-Matic, you know, some of the things you’ve been teaching us in our team and posting for the public has been pretty eye-opening and stats. You don’t see in the headlines anywhere. Right? Well,
Tego: And I, I, it’s easy to come up with average sale price. Number of homes sold all of that. That’s fine. And that’s great. And it shows us some, some good information, but it doesn’t get to kind of the core of, of what a buyer should be thinking about when they’re putting together an offer, what a sellers should be thinking about when they’re getting ready to put their home on the market and price it. And all of that, a couple, but I’ll start with just some big, big stats. Just what I did is went back and looked at the last 30 days, of course, in comparing it to last year, same period, which was a weird time Tracy: We were shut down last year, we did not do anything. We didn’t even go to the store, correct stores. We had limited hours and limited availability. So we were figuring out how to show houses last June, but this is may. Yeah.
Tego: What happened? You know, this, this time, last year, this is last half of may. First half of June is what I’m comparing. Right? the number of homes for sale is down, even from that period. And that’s when it just fell off the cliff. Right? Right. But the number of homes on the market, so we’re down 28% of homes on the market versus last year, same time list, excuse me, not list price. Average sale price. Average is up 25% versus last year average sale price. At least this, this little less 30 days, snapshot is now $323,000 per Albuquerque
Tracy & Tego Venturi
Venturi Realty Group
Keller Williams
1119 Alameda Blvd NW
Albuquerque, NM 87114
(505) 448-8888