June Market Watch: Is Albuquerque’s Summer Surge Starting?

As summer kicks off, Albuquerque's real estate market is showing signs of increased activity. Buyers are eager, and inventory is adjusting to meet demand. Let's delve into the latest market trends, spotlight a vibrant neighborhood, and hear from local agents on the ground.

Real Estate Market Insights:

• Strong Demand in Mid-Range Market: The 200k-500k segment shows a high pending ratio of 86%, indicating strong buyer interest relative to active listings. This suggests a competitive market for mid-range homes, making it a good time for sellers in this price range to list their properties.
  
  
• Higher Months Supply in Luxury Segment: The 500k+ segment has a months supply inventory of 12.5 months, significantly higher than the overall average of 7.1 months. This indicates that luxury homes are staying on the market longer, offering buyers more options and possibly more negotiating power in this segment.
  
  
• Price Stability and Slight Discounts: Across all segments, the sale-to-original list price ratio hovers around 96%, showing that homes are generally selling close to their original asking prices. However, there is a slight discount on final sale prices compared to the original list, which buyers can leverage during negotiations.

Neighborhood Spotlight: Nob Hill
Nob Hill continues to charm with its blend of historic homes and trendy spots. Average home prices hover around $365,000, with properties moving quickly due to high demand.

Agent Insight
"We're seeing multiple offers on well-priced homes, especially in areas like Nob Hill and the Northeast Heights," says local a agent. "Buyers are motivated, and sellers are capitalizing on the momentum."

Conclusion
The summer market is heating up. Whether you're buying or selling, staying informed is key.