It’s February 2021: Last month’s housing stats in the Albuquerque area

Tracy Venturi: Housing stats. Tego

Tego Venturi: I know. Well, it’s the first week of February, 2021. And here we are. And, and I’ll go through a couple of things. I know it’s a little more difficult on radio. You guys can’t see this, but let me just give you a couple things, Tracy. So the number of homes sold in January this year is up 14% versus January last year.

Tracy Venturi: Incredible. Isn’t it? Considering that if we had more houses on the market, think how far up it would be?

Tego Venturi: Well, that, that goes right into what I was going say next, which is the number of homes for sale. So again, set that in your mind, 14% increase in sales in January, that was with a 64% decrease in the number of homes on the market versus last January. So give me an idea. Last January, you had 1,752 homes on the market. This January 630, you know, that was just for the Metro Albuquerque. Currently there’s about 850 or so in Metro Albuquerque single family homes for sale. And as I keep saying, you know, we could easily have three, four, 5,000 homes in the market and still be in a quote balanced market, you know, with the, with the current demand that we’re seeing in, in the market. And I, I know there’s a lot of people talking and I was on a training where I was talking to some other realtors about, you know, what’s going on, doing what I do here, which is talking about the market. And some people are concerned that the prices are gonna tank and 21. And I I’ll just say I’ll put my, you know, I’ll put my name on it, that I don’t see it. I just don’t see it in,

Tracy Venturi: I don’t either prices can’t tank that fast. It moves slow. So I’m sure you have some other stats for us from January before.

Tego Venturi: The one thing I wanted to talk about was the the, yeah, let me go back to that one. Sorry about that is the luxury market Tracy, because that’s one place where we’ve really seen a huge move in the last year. And just to give you an idea homes over 600,000, if we look at closed sales,

Tracy Venturi: So did you increase that from 500,000? We always talk about homes over 500,000,

Tego Venturi: The stat I’ve got it set up as 600 and above, but just to give you an idea, there was a 45% increase in the number of homes over 600,000 that closed in the last 12 months. Okay. If you look at it just for January, there was, Oh, I’m on the wrong chart. We get this in January of 2020 homes. Over 600,000, we had 18, or excuse me, had 18 sales this year, 41 sales in January over 600,000. That’s 128% increase. Yup. So that market’s really strong. Yeah, I mean, we don’t need to beat this to death. The reality is it’s, you know, the market is very strong. It’s a very strong seller market in all segments of the market, all parts of town. And, and I don’t I don’t see that changing anytime real soon.