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Paul T Chavez, Qualifying Broker

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Earth Origins Realty LLC
PO Box 7146
Albuquerque, NM 87194




Sustainable. Home. Community. Albuquerque EcoBroker & NM Green Builder

Albuquerque New Mexico Real Estate Market, Home Investment

Good News for Albuquerque's Real Estate Future

Although the real estate market in Albuquerque has experienced housing price declines since the begining of 2008, in addition to job growth stagnation, leading financial publiction Forbes.com predicts that housing prices will appreciate and job growth will rise in the near future.  Housing starts are expected to grow here by 26.6 percent in 2009, according to the National Association of Home Builders.

In 2006, Forbes ranked Albuquerque as the Nation’s Best City for Business and Careers. Earlier this year, the city was ranked 13th best in the nation for that same category."

Albuquerque will likely see home prices increase as soon as 2010 - great news during this time of economic recession.  As the author  Matt Woolsey writes, "more tough times to come in the short term, but potential for a recovery and a rise in prices in the long term."  What is going to bolster the Albuquerque real estate market?  Projected job growth due to low costs and local business expansion.   Fortunately, Albuquerque is not considered to be an overbuilt real estate market, as is the case for Phoenix and Las Vegas.   As our local New Mexico economy grows and becomes more diversified, land values will also increase.  As land prices appreciate, so do home values. 

 


October 2009 Stats for Home Sales in Albuquerque

According to the Albuquerque Metropolitan Board of REALTORS Southwest Multiple Listing Service, detached home sales in October 2009 rose 10.59% compared to September 2009, and jumped a substantial 43.05% compared to a year ago in 2008.  Since 2007, home sales were the third highest in the Albuquerque area during the month of October 2009.  The First Time Home Buyer Tax Credit can be attributed to fueling this increase in home sales.   

 

Real Estate Market Statistics for Single-Family Detached Homes 2008 3rd QTR 
Area Sales Average sale price Median price
10- Sandia Heights

              

$

$
20- North Albuquerque Acres $ $
21- Albuq. Acres West $ $
30- Far NE Heights $ $
31- Foothills North $ $
32- Academy West $ $
40- Near NE Heights $ $
41- Uptown     $ $
42- UNM South $ $
50- NE Heights $ $
51- Foothills South $ $
60- Four Hills $ $
70- SE Heights $ $
80- Downtown $ $
90- Southwest $ $
91- Valley Farms $ $
92- Southwest Heights $ $
93- Pajarito $ $
100- North Valley $ $
101- Near North Valley $ $
102- Far North Valley $ $
103- West River Valley $ $
110- Northwest Heights $ $
111- Ladera Heights $ $
112- Canoncito $ $
120- Paradise West $ $
121- Paradise East $ $
130 - Corrales   $  $

For more detailed real estate market statistics for the Albuquerque, Corrales, Placitas, East Mountains, and Rio Rancho areas, contact us.  If you would like to know what your home is worth, call us or click here to request a Free CMA (Comparative Market Analysis).  If you are in the market to purchase a home, use our Advanced MLS Home Search Tool.  And if you cannot find what you are looking for, don't hestitate to contact us...real estate is what we do for a living.   


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