Here is my first Northwest Albuquerque Real Estate Report for area 121. Area 121 extends from Unser blvd to the west. Paseo del Norte to the south, Coors Blvd to the east and the Rio Rancho/Albuquerque Border to the north.
Area 121 Total Closed Sales
The graph represents a 5 year history of the total number of closed sales.
With one exception in 2008, the number of closed sales have continued to decline since the 2005 peak.
There were 34 sales in 2008 and 19 sales in 2009, a 44% YTD decline in the total number of September closed sales.
In 2005 there were 78 closed sales. 19 sales in 2009 indicate a whopping 75% reduction in the number of closed sales.
Area 121 Average Sales Price
The graph illustrates incredible spike in the average sales price in 2006. Values declined in 2007 and 2008, but recovered some this September.
The average sales price in September 2008 was $205,665.
The average sales price in September 2009 was $215,460, a modest increase of 4.5%.
Summary
In spite of the reduction in closed sales in this part of Northwest Albuquerque, there was a slight increase in average sales price. View my latest Albuquerque Real Estate Report.
Average sales prices were down in Albuquerque but up in area 120. Does this suggest the beginning of a recovery or is it just an anomaly?
It's important to understand local market conditions when you are looking to buy or sell. When you examine real estate data remember that market conditions can vary greatly from state to state, city to city and neighborhood to neighborhood.
Please call me on my cell at 505.400.5994, or at RE/MAX Elite at 505.798.1050 if you want a Realtor who is familiar with Real Estate in Northwest Albuquerque or 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.
Rich,
I like the graphs, they're nice, clean, and easy to read. Good job.
Thanks Brian, another small victory for the graphically challenged!