The April Real Estate Market
The Albuquerque Real Estate market is continuing heat up as an increase of the local economy and the concern for mortgage interest rates increasing are promoting the market. With the home inventories remaining low and the demand still being high, this creates a great opportunity for anyone looking to sell their home. If you think about selling your home, you might want to start doing some research. Start by looking up the current market value of your home by getting an online evaluation at www.valuemyalbuquerquehome.com.
Bernalillo County saw boosted real estate activity everywhere in the month of April. Pending sales at 557 showed an increase of 56.6% over the 356 offers that were accepted in the April of 2014. This shows the one of strongest April for pending sales in Bernalillo County on record. Closed sales at 382 also outdid April 2014, by about 29.9%, making it the April with the most closings since April 2006 and its 394 closings. There have been 687 new listings which is 15.7% over April 2014 and its 594 new listings, which makes it the highest number since 2010 when there were 691 new listings in April. The inventory in Bernalillo County has dropped to 3.4 months in April and total market time has fallen to 95 days within the same time frame.
Average and median sale prices have gone up higher in 2016 than they were in 2014 as well, with the average sales price of $225,200 rising to $236,900, a 5.2% increase, and the median sales prices have risen 5.6% from $203,100 to $214,500.
If you’re looking to sell your home this year contact The Sandi Pressley Team today.
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