Patrick F. Montrose - REALTOR®, BA, MA, MAT
Associate Broker
Certified Relocation Specialist
Coldwell Banker Legacy Realtors
6767 Academy Road NE
Albuquerque, New Mexico 87109
Pat@PatMontrose.com
(505) 857-2344 Office Direct Line
(505) 239-4253 Mobile
(505) 281-9249 Fax
The Southwest Multiple Listing Service, Inc. reports that home sales units decreased by 17% from 1319 units sold in September,
2005 to 1090 units sold in September, 2006. September's average sales price for Single Family (R1) Homes shows an increase
of 6.75% to $226,322 from $211,997 in 2005. The median sales price, the price at which half the homes were sold above and below,
rose by 13% from September 2005's $171,000 to $193,250 in September, 2006. The average sale price for R2 Condo/Townhouses
was $160,722 in September 2006 compared to $138,773 in September, 2005, a 16% increase. The median sales price rose by
32% from $118,000 in September, 2005, to $155,950 in September, 2006.
60% of the homes sold within 60 days on the market in September, 2006, while 62% sold in the same number of days in September, 2005.
Under Contract (Pending), those transactions under contract and in escrow, decreased 16% from 1,364 in September, 2005 to 1,147 in
September, 2006. The 2,381 listings added during September, 2006, increased by 36% from the 1,746 added in September, 2005.
The September 2006 Residential Home Sales statistics show a slight slowdown in the housing market in the Greater Albuquerque Area
from last September. We've seen a 17% decrease in sales for September 2006 versus September of 2005. The Albuquerque Resale Housing
Market has slowed down, with a large increase in housing inventory over last year, but home prices continue to be fairly stable in this market.
The number of Buyers continues to be constant or slightly increasing, but the available inventory has increased creating the larger available inventory.
Fall traditionally signals a slowdown in resale sales and continues to be a good time for Buyers to be in the marketplace.
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