The North Valley is broken into three distinct sections and includes two incorporated towns not part of Albuquerque. At its northern edge, the town of Corrales sits west of the Rio and abuts the Sandia Reservation. South of Corrales on the east side of the Rio, Los Ranchos takes up much of the North Valley’s middle section and spreads south roughly from Paseo del Norte down to Montaño Road.
Here we’ll focus on the Albuquerque section of the valley, east of the Rio Grande, that runs south from Los Ranchos down into Old Town. Not only a dense and diverse residential area, the North Valley has a variety of shopping, services and attractions. Local shops like the upscale The La Montañita Co-op and earthier The Fruit Basket and plentiful eateries like Mary & Tito’s Café, Taco Y Mariscos and Flying Star reflect the area’s style and culture nicely.
A hugely diverse residential area, you can easily find a decent home for $100k or less, particularly if you don’t mind a little updating. Or, you can drop $800k for a fine Hacienda within a short stroll of the Rio Grande Nature Center, a state park tucked into the Bosque on the Rio Grande.
I mentioned the housing diversity of the area, you can also buy a nice little rancher or casita for under $300k and still walk to that same nature center. The median home price in the North Valley was $173,000 over the first half of 2016, meaning half the 144 homes sold in that period went well under $200k.
If you want more detailed information or updated market information on a specific neighborhood or an analysis of the potential value of a specific home, drop me a line.
– Joe LaMastra, Realty One of New Mexico, August 8, 2016