Albuquerque Median House Price up 25% in past year

Dated: July 13 2021

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After years of slow appreciation, the Albuquerque housing market is surpassing the national average in value increases this year. The median price for a single family home in ABQ increased 25.8% in the past year, compared to a national average of 24%. This is according to the latest sales figures from the local real estate association and the National Association of REALTORS®

The June 2021 sales figures released by the Greater Albuquerque Association of REALTORS® (GAAR) now put the median priced ABQ area home at $305,000 compared to $242,500 one year ago. The median is the point at which half of the houses sell for more than that amount and half sell for less. The average priced single family home in the ABQ metro area went up 22% in the past year to $341,350. And although inventory has improved in the past few months so there are now as many houses for sale as there were a year ago, the market is still moving fast. Locally the average Days On Market last month was 11, compared to 17 nationally, and compared to 30 days locally a year ago.

Sales are expected to remain fast as long as interest rates remain amazingly low  - hovering around 3%. Most analysts currently predict rates will remain low through the end of 2021.

Please text or give Sharon Stelzer at Red Fox Realty, a call at 505-508-8039 to get information on selling your house for the most amount of money and the least amount of hassle, or to buy your next of first house in the Albuquerque area. I'll send you a list of steps to get you started and make your sale/purchase go smoothly. Or reach out via email: sharonstelzer33@gmail.com

Click the following link for a closer look at the latest sales ABQ sales figures from GAAR: ABQ June 2021 Real Estate Sales Figures

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Sharon Stelzer

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