April Market Report
Real Estate Update with Cheryl Marlow
770 KKOB AM’s Residential Real Estate Specialist!
The Greater Albuquerque Association of Realtors released the April market report on Monday and we’re seeing some promising increases! One of the highlights of the report was that April of this year reported the highest number of April sales since 2007! We also saw increases in both pending and closed homes. Pending homes were up 18% from March and 46% from April 09! This great news is showing us that the market is moving towards stabilization more and more each day and that we should hope to see this upward trend month to month throughout the summer!
This increase in sales is music to the ears of home sellers and agents alike. As always, some areas are more popular than others in terms of sales. The month of April showed 108 sales in the $200,000 to $249,000 mark. That was the highest in any price range and really has been the story in previous months! The Greater Albuquerque market is seeing an average sales price of about $205,000. There were only 17 sales over $500,000. Activity in the upper end is still much slower than we would like. I believe that the activity in the affordable price range will continue. More than 600 of the 757 homes sold in April were closed under $250,000 . In fact every month we are consistently reporting 78 – 80 percent of home sales under the magic number of $250,000!
Now is a great time to buy or sell. Why? Because we are seeing the expected Spring and Summer increase in activity. If you’re considering selling, call me now because this summer just might be the perfect time to sell! For Buyers, of course those below 5% interest rates make buying a home now very appealing!
Cheryl Marlow
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