Report: Albuquerque real estate among busiest in country
ALBUQUERQUE, N.M. – A new report shows Albuquerque is one of the busiest real estate areas in the country.
“382. That’s Albuquerque and Rio Rancho and that’s single family homes,” said Albuquerque Realtor John Lopez.
Lopez said this time last year, there were over a thousand. He said homes continue to go under contract very quickly.
"They’re coming in, just selling in five days on average," said Lopez.
According to a new National Housing Report, Albuquerque was on trend with other major cities.
Median sold prices have gone up:
- Jan. 2021 – $250,000
- Jan. 2022 – $296,750
Supply is also low, the Duke City is one of the top five markets with a big year-over-year decrease.
Months Supply Inventory:
- Jan. 2021 – 3.2 months
- Jan. 2022 – .6 months
Lopez said this trend is expected to continue, perhaps over the next few years, in Albuquerque.
"Whatever home you buy today, is going to be a lot more expensive next year. In two different dynamics. One, prices are going to be higher. Two, interest rates are going to be higher."
He said there are houses out there and new ones listed every day and people on the hunt just need to be patient and keep bringing their best offers.