April 2024 Albuquerque Market Update

Hey there, Buyers and Sellers! April's sales numbers are in. Let's dive into some metrics that can give you a glimpse into the current market conditions.

First, Months Supply of Inventory is sitting at a low at 1.38. This tells us there is a limited supply of homes on the market, which could potentially lead to increased competition among buyers.

Next, we see that the 12-Month Change in Months of Inventory has seen a significant increase of +45.26%. This suggests that inventory levels have been rising over the past year, possibly offering more options for buyers.

Moving on to the Median Days Homes are On the Market---a speedy 10 days! This means homes are selling quickly (seller's market!), likely due to high demand and competitive pricing.

The List to Sold Price Percentage is a strong 99.3%, showing that sellers are typically receiving close to their asking price. This indicates a market where buyers may need to act fast to secure a home.

Lastly, the Median Sold Price stands at $340,000, giving you an idea of the average price point in Albuquerque.

Overall, these metrics paint a picture of a dynamic real estate market. Buyers may need to act fast and be prepared to make strong offers, while sellers may find themselves positioned to capitalize on the current demand. Keep these numbers in mind as you navigate the real estate landscape. Happy house hunting!