For centuries, folks have made their homes along the cool, wooded banks of the Rio Grande and Albuquerque’s Old Town is among the oldest continuously inhabited parts of North America. What attracted folks years ago is not much different than what attracts them now – community and a good place to make a life. Attractions include spacious Tiguex Park, the many shops surrounding the Plaza and wonderful eateries like Church Street Café and Season’s Rotisserie & Grill. A great place to ground yourself in the spectacular geography of our state is the New Mexico Museum of Natural History and Science, part of a fascinating complex of museums adjacent to Old Town.
I’m playing loose with the term Old Town and including the wider area that runs from 12th Street west to the Rio Grande and between Central Ave to the south and I40 to the north. It includes neighborhoods like West Old Town on the Rio side, the Sawmill district north and east of Old Town and what’s arguably the western edge of Downtown, the wonderful homes west of 12th Street, both north and south of Lomas that run up against Tiguex Park and the Museum District.
A substantial amount of newer home construction has been seen north and east of Old Town in the Sawmill district, a classic industrialized area of Albuquerque that has seen unused sites give way to single family homes and Townhomes, many priced very reasonably. In fact, the median Sawmill home price was $188k in the first half of 2016 and the high sale price was $228k. The area also holds the Sawmill Community Land Trust, an interesting mixed income development. You can search Sawmill homes here.
West of Old Town has a more varied housing stock and while the median home price was $250k in the first half of 2016, you could spend as little as $115k on a modest home near Rio Grande Blvd and Central, or as much as half a million for a home closer to the Bosque.
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 9, 2016