Everything you need to know about the state of our housing market.
Today, we’re here to inform all of our clients about the current market situation. The Greater Albuquerque Association of Realtors recently released the April 2023 statistics compared to the same period last year, so let’s take a look at what they say about our market.
In terms of detached new listings, there were 854 homes on the market, a decrease from last year's 1,297 homes. This indicates low inventory in Albuquerque and the surrounding areas. As for pending sales, 893 detached homes went under contract, whereas last year it was 1,003 homes at this time. The number of closed sales for detached homes is 679, compared to 972 last year. These figures show a slight decline. Currently, there is a high demand from buyers but limited available inventory.
If you are considering buying or selling a home, or if you would like a market analysis for your property, please don't hesitate to call or email us. We would be delighted to assist you.