As a real estate advisor helping families find their perfect homes in Albuquerque for over 40 years, I've witnessed many changes. But nothing quite compares to the transformation we're seeing now, thanks to our booming tech corridor. Let me share what I see on the ground and what it means for our local real estate market.
Remember when Intel first set up shop here? Intel recently invested $3.5 billion in a modernization project at the Rio Rancho facility. This project is reshaping our entire real estate landscape and making National headlines. In the past few months, I've had the pleasure of helping several Intel engineers and their families find homes, and their experiences are painting a fascinating picture of our evolving market.
I see the most immediate impact in the Rio Rancho and North Albuquerque Acres areas. Properties that might have sat on the market for 60 days last year are now getting multiple offers within the first week of listing. Last month, I helped a tech family win a bidding war on a beautiful property off Northern Boulevard—we had to act fast. Still, they couldn't be happier with their new home overlooking the Sandias.
But it's not just Intel making waves. Netflix's continued expansion of their ABQ Studios creates a fascinating ripple effect in our housing market. The South Valley and Downtown areas are experiencing an unexpected renaissance. Those charming historic homes near EDO (East Downtown) that everyone used to overlook? They're known as some of the hottest properties in town, especially among young professionals in the film industry who want to be close to the action.
What's particularly interesting is that I'm noticing a new trend in home feature requests. My tech industry clients increasingly seek properties with high-speed fiber internet connectivity, dedicated home office spaces, and smart home capabilities. This shift is pushing many local homeowners to upgrade their properties, which in turn is raising the overall value of our neighborhoods.
Looking at the numbers, median home prices in the tech corridor adjacent areas have increased by approximately 12% over the past year – that's significantly higher than our city's overall appreciation rate of 7%. The North I-25 corridor, specifically around Journal Center and Paseo del Norte, has become exceptionally competitive. Properties in these areas selling for $350,000 in early 2024 are now commanding prices around $395,000 or more.
But here's my insider tip: keep your eyes on the Mesa del Sol area. With its proximity to both Netflix studios and the Sunport, plus plenty of room for new development, I'm seeing early signs that this could be our next real estate hotspot. Several of my clients have already made smart investments in this area, anticipating the growth that's likely to come.
What excites me most about this tech-driven boom is how it's diversifying our local economy while preserving what makes Albuquerque unique. Unlike other tech hubs that lost their soul to rapid development, we're managing to grow while maintaining our unique cultural identity. The blend of high-tech industry with our traditional New Mexican charm is creating something truly special.
For homeowners in the area, my advice is to think long-term. If you've been considering selling, you might want to hold on a bit longer – we're likely just seeing the beginning of this growth cycle. Buyers, especially those looking in the tech corridor areas, should be prepared to act quickly but smartly. Remember, good properties are moving fast, but there are still plenty of hidden gems in our market if you know where to look.
Want to learn more about how these changes might affect your specific neighborhood or your plans to buy or sell? Let's talk! After all, in this dynamic market, having a knowledgeable local advisor can make all the difference.
Whether you envision a new home, goal, or adventure, the Sandi Pressley Team supports you every step of the way. Call us at 505-263-2173.
FIND TECH CORRIDOR HOMES NOW! 
HOT PROPERTY OF THE WEEK!
2513 DESERT VIEW ROAD NE
RIO RANCHO, NM 87144
Open HouseSaturday, Feb 1
2:00 PM - 5:00 PM
 

Welcome Home! See this amazing Sivage Home in the desired desert view of the Mariposa Community. You are greeted by high ceilings and an open-concept living space as you enter. The chef's kitchen is sure to delight your buyers. Perfect for entertaining, fantastic wood cabinets with plenty of storage. You will be impressed with this spectacular 5-bedroom 4, 4-bathroom property that boasts two master bedrooms with walk-in closets on each floor—breathtaking views of the Sandia Mountains. HOA fees include a community center, gym, and indoor/outdoor pool access. Walking and biking trails galore! Bring your buyer today!

GET YOUR MORNING INSPIRATION WITH THE Sandi Pressley TEAM!
 

As a real estate advisor helping families find their perfect homes in Albuquerque for over 40 years, I've witnessed many changes. But nothing quite compares to the transformation we're seeing now, thanks to our booming tech corridor. Let me share what I see on the ground and what it means for our local real estate market.

Remember when Intel first set up shop here? Intel recently invested $3.5 billion in a modernization project at the Rio Rancho facility. This project is reshaping our entire real estate landscape and making National headlines. In the past few months, I've had the pleasure of helping several Intel engineers and their families find homes, and their experiences are painting a fascinating picture of our evolving market.

I see the most immediate impact in the Rio Rancho and North Albuquerque Acres areas. Properties that might have sat on the market for 60 days last year are now getting multiple offers within the first week of listing. Last month, I helped a tech family win a bidding war on a beautiful property off Northern Boulevard—we had to act fast. Still, they couldn't be happier with their new home overlooking the Sandias.

But it's not just Intel making waves. Netflix's continued expansion of their ABQ Studios creates a fascinating ripple effect in our housing market. The South Valley and Downtown areas are experiencing an unexpected renaissance. Those charming historic homes near EDO (East Downtown) that everyone used to overlook? They're known as some of the hottest properties in town, especially among young professionals in the film industry who want to be close to the action.

What's particularly interesting is that I'm noticing a new trend in home feature requests. My tech industry clients increasingly seek properties with high-speed fiber internet connectivity, dedicated home office spaces, and smart home capabilities. This shift is pushing many local homeowners to upgrade their properties, which in turn is raising the overall value of our neighborhoods.

Looking at the numbers, median home prices in the tech corridor adjacent areas have increased by approximately 12% over the past year – that's significantly higher than our city's overall appreciation rate of 7%. The North I-25 corridor, specifically around Journal Center and Paseo del Norte, has become exceptionally competitive. Properties in these areas selling for $350,000 in early 2024 are now commanding prices around $395,000 or more.

But here's my insider tip: keep your eyes on the Mesa del Sol area. With its proximity to both Netflix studios and the Sunport, plus plenty of room for new development, I'm seeing early signs that this could be our next real estate hotspot. Several of my clients have already made smart investments in this area, anticipating the growth that's likely to come.

What excites me most about this tech-driven boom is how it's diversifying our local economy while preserving what makes Albuquerque unique. Unlike other tech hubs that lost their soul to rapid development, we're managing to grow while maintaining our unique cultural identity. The blend of high-tech industry with our traditional New Mexican charm is creating something truly special.

For homeowners in the area, my advice is to think long-term. If you've been considering selling, you might want to hold on a bit longer – we're likely just seeing the beginning of this growth cycle. Buyers, especially those looking in the tech corridor areas, should be prepared to act quickly but smartly. Remember, good properties are moving fast, but there are still plenty of hidden gems in our market if you know where to look.

Want to learn more about how these changes might affect your specific neighborhood or your plans to buy or sell? Let's talk! After all, in this dynamic market, having a knowledgeable local advisor can make all the difference.

Whether you envision a new home, goal, or adventure, the Sandi Pressley Team supports you every step of the way. Call us at 505-263-2173.

FIND TECH CORRIDOR HOMES NOW! 


HOT PROPERTY OF THE WEEK!

2513 DESERT VIEW ROAD NE, RIO RANCHO, NM 87144

Open House- Saturday, Feb 1- 2:00 PM - 5:00 PM

 

Welcome Home! See this amazing Sivage Home in the desired desert view of the Mariposa Community. You are greeted by high ceilings and an open-concept living space as you enter. The chef's kitchen is sure to delight your buyers. Perfect for entertaining, fantastic wood cabinets with plenty of storage. You will be impressed with this spectacular 5-bedroom 4, 4-bathroom property that boasts two master bedrooms with walk-in closets on each floor—breathtaking views of the Sandia Mountains. HOA fees include a community center, gym, and indoor/outdoor pool access. Walking and biking trails galore! Bring your buyer today!


GET YOUR MORNING INSPIRATION WITH THE Sandi Pressley TEAM!