Crunching the Albuquerque Market

This number crunch article takes a close look at the inventory of homes currently for sale in the Greater Albuquerque market areas.  Information such as average list price, days on market and a breakdown of where homes are being sold will provide a clear picture of what is going on in the local Albuquerque real estate market. 

Quarter Sales Report and the 2009 Annual Sales Report, both found at http://www.gaar.com.

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Market Conditions for Single-Family (Detached) Homes for Sale
Average Days on Market: 119
Median Original List Price:  $235,000
Current Average List Price: $315,460
Current Median List Price: $227,250
Average # of Photos (per listing): 13
% of Listings with Virtual Tours: 17%
% of all Residential property inventory: 85.10%

Breakdown of Inventory by Area:

MLS Area	Area Name	% of Inventory
10-121	City of Albuquerque	60.54%
130	Corrales	2.12%
140-162	City of Rio Rancho	16.65%
170	Bernalillo/Algodones	1.45%
180	Placitas	1.64%
210-293	East Mountains/Estancia Basin	7.87%
690-760	Valencia County	9.74%

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Market Conditions for Condo/Townhomes, (Attached) Homes for Sale
Average Days on Market: 124 
Median Original List Price: $165,000 
Current Average List Price: $315,460 
Current Median List Price: $227,250
Average # of Photos (per listing): 13
% of Listings with Virtual Tours: 13%
% of all Residential property inventory: 10.5%

Breakdown of Inventory by Area:

MLS Area	Area Name	% of Inventory
10-121	City of Albuquerque	87.41%
130	Corrales	0.68%
140-162	City of Rio Rancho	6.97%
170	Bernalillo/Algodones	0.68%
180	Placitas	N/A
210-293	East Mountains/Estancia Basin	N/A
690-760	Valencia County	4.25%

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Market Conditions for All Residential Property Types (Detached, Attached, Manufactured)
Average Days on Market: 120
Median Original List Price: $219,000
Current Average List Price: $292,843
Current Median List Price: $209,500
Average # of Photos (per listing): 12
% of Listings with Virtual Tours: 16%

Breakdown of Inventory by Area

MLS Area	Area Name	% of Inventory
10-121	City of Albuquerque	61.48%
130	Corrales	1.91%
140-162	City of Rio Rancho	15.28%
170	Bernalillo/Algodones	1.38%
180	Placitas	1.41%
210-293	East Mountains/Estancia Basin	8.22%
690-760	Valencia County	10.33%

Source: Southwest MLS, Inc.  Information deemed reliable but not guaranteed.