Albuquerque home sales were strong in March and strong in general for the first quarter of 2015 over the first quarter of 2014. That’s driven by sales in the Northeast heights and Southeast and across all price points above the $100,000 threshold. It’s also driven by a solid reduction in sales of foreclosed (REO) homes and short sales.
A fun first quarter and a strong March for Albuquerque home sales. Solid gains in unit sales, average & median price, price per square foot and the continued drop in foreclosed and short sales bode well for the Albuquerque real estate market.
We also see an increase in pending sales and a decrease in active listings for March, suggesting inventory might be tightening as we move through spring.
If you’re thinking about selling or buying a home and would like a more specific analysis of a particular area, neighborhood or home, drop us a line and we’ll put one together for you.
– Joe LaMastra, March 27, 2015