Here is my Ventana Ranch (Area 120) Real Estate Report for December. Area 120 encompasses Ventana Ranch, Ventana Ranch West, La Scala, Vittoria, Rio Vista, Seville, Paradise Skies, Los Suenos, Sundance Estates and all other Albuquerque listings west of Unser Blvd, north of Paseo Del Norte and south of the Rio Rancho border.
Area 120 Closed Sales
The graph represents a 5 year history of the total number of December closed sales. As you can see in the graph, the number of closed sales was still as slow as in 2008.
Closed sales are still dramatically off the peak number of sales in 2005.
This graph represents a 5 year history of the average home sales price.There has not been any improvement in average sales prices.
90 Day Forecast
Buyers are very active right now. Visits and property searched on my websites are up like it was May or June. Buyers who feel they almost missed their chance to get their $8,000 first time home buyer tax credit are determined to not let it happen again.
Let's not forget how strong sales were in September, October and November. Then look how the numbers crashed in December when buyers thought the credit would be gone. Of course it got extended, but I believe sales will follow a similar pattern again in April, May and June when the current extension expires. Then activity will probably plummet when it's over.
It's important to understand local market conditions when you are looking to buy or sell. When you hear real estate news on the television remember that market conditions can vary greatly from state to state, city to city and neighborhood to neighborhood. Contact me if you'd like to receive a free market analysis for your current home.
Please call me on my cell at 505.750.1846 if you want to work with a Realtor who is familiar with Real Estate in Northwest Albuquerque and Rio Rancho.
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Albuquerque Realtor Rich Cederberg works for RE/MAX Finest in Albuquerque New Mexico. Previously Rich worked for RE/MAX Elite and the Vaughn Company Realtors for 5 years. He specializes in Albuquerque Real Estate, Northwest Albuquerque Real Estate, Rio Rancho Real Estate and Los Lunas Real Estate. He especially enjoys working with First Time Home Buyers. Call 505.803.5012 or email Rich Cederberg if you need a Albuquerque REMAX agent.
