ABQ Real Estate 3rd Quarter

More Sales, Less Money, Bottom?

September 30, 2011

By: Will Beecher

The Greater Albuquerque Area Sales in Quarter 3 increased by +15%.  However prices still declined  more than -9%.

The good news is that we are seeing more sales; the bad news is sellers are getting less money for their property.  Even in the East Mountains, which in more of micro-market, closed sales increased by 10%, but prices fell almost -10%.

However, this is interesting data because could this a sign of a bottom?  If people are buying more property but prices declined again even from 2009 levels.  The conclusion is we have finally reached price levels where buyers are willing to buy more property.

This is why 2012 is going to be a crucial year to gauge the market direction.  We need to see stabilization in prices with an increase in closed sales.

Keller Williams Realty 6240 Riverside Plaza Suite 100 Albuquerque, NM 87120 505-897-1100  This website is produced and owned by Will Beecher, all photography and images are copyright of the owner. Use of these images is prohibited.  This website is produced by Will Beecher.  We are  not  in any way associated with the developer, Campbell Corporation or any of their subsidiaries.  Some  properties shown are not Prudential New Mexico Properties Listings. This website merely provides information about  San Pedro Creek Estates and San Pedro Overlook that is readily available on the internet and SWMLS.   All information herein is deemed accurate but is not in any way guaranteed. Prices may change at any time.