Quarterly Market Report - 2nd Quarter 2019 - Albuquerque Real Estate Statistics

Q

uarterly market

R E P O R T

nd 2 QTR 2019

Quarterly Highlights The average sale price of single-family detached homes in the 2nd Quarter 2019 was $265,539, a 9.3% increase from 2nd Quarter 2018.

Single-family detached home sales rose 1.8% from 2nd Quarter 2018 to 3,548.

New Listings

Closed Sales

Average Sale $

Detached: 5,062 Attached: 494

Detached: 3,548 Attached:  349

Detached: $265,539 Attached: $175,184

2nd QTR 2018 Detached: 5,345 Attached: 477

2nd QTR 2018 Detached: 3,484 Attached: 368

2nd QTR 2018 Detached: $242,906 Attached: $166,217

% Change (Detached) -5.29%

% Change (Detached) +1.84%

% Change (Detached) +9.32%

www.gaar.com Contact

John Lopez 2019 GAAR President Phone 505-275-5277 Email president@gaar.com

2nd QTR 2019 & 2018 RECAP for Greater Albuquerque Areas Class R1 (Existing Single-Family Detached) & Class R2 (Existing Condo/Townhome Attached)

Class R1

201 9

201 8

% of Change

Average Sale Price:

$265,539

$242,905

9.32%

Median Sale Price:

$225,000

$210,000

7.14%

Total Sold & Closed:

3,548

3,484

1.84%

Total Dollar Volume*:

$942.1

$846.2

11.33%

5,062

5,345

-5.29%

36

40

-10.00%

201 9

201 8

% of Change

Average Sale Price:

$175,184

$166,217

5.39%

Median Sale Price:

$160,000

$154,000

3.90%

Total Sold & Closed:

349

368

-5.16%

Total Dollar Volume*:

$61.1

$61.2

-0.16%

494

477

3.56%

38

45

-15.56%

New Listings: Days on Market:

Class R2

New Listings: Days on Market:

The numbers above reflect the time period between Apr. 1 and June 30th of 2018 and 2019. *Total Dollar Volume (millions)

Average Sale Price for single-family detached homes

$265,539

$270,000 $260,000 $250,000 $240,000

$239,934

$242,906

$230,000 $220,000 $210,000 $200,000 $190,000 $180,000

2nd QTR 2017

2nd QTR 2018

2nd QTR 2019

SOURCE: Greater Albuquerque Association of REALTORSÂŽ - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.

2

2nd QTR 2019 & 2018 RECAP for Albuquerque (Areas 10-121) Class R1

201 9

201 8

% of Change

Average Sale Price:

$267,642

$244,935

9.27%

Median Sale Price:

$225,000

$207,950

8.20%

Total Sold & Closed:

2,451

2,426

1.03%

Total Dollar Volume*:

$656.0

$594.2

10.40%

3,417

3,690

-7.40%

34

37

-8.11%

201 9

201 8

% of Change

Average Sale Price:

$175,112

$170,950

2.43%

Median Sale Price:

$162,000

$155,000

4.52%

Total Sold & Closed:

307

317

-3.15%

Total Dollar Volume*:

$53.8

$54.1

-0.55%

428

423

1.18%

37

46

-19.57%

New Listings: Days on Market:

Class R2

New Listings: Days on Market:

2nd QTR 2019 & 2018 RECAP for Rio Rancho (Areas 140-162) Class R1

201 9

201 8

% of Change

Average Sale Price:

$241,392

$221,203

9.13%

Median Sale Price:

$219,000

$201,000

8.96%

Total Sold & Closed:

624

598

4.35%

Total Dollar Volume*:

$150.6

$132.3

13.83%

855

862

-0.81%

30

35

-14.29%

201 9

201 8

% of Change

Average Sale Price:

$185,119

$142,795

29.64%

Median Sale Price:

$159,000

$170,625

-6.81%

Total Sold & Closed:

27

29

-6.90%

Total Dollar Volume*:

$5.0

$4.1

21.95%

New Listings:

46

20

130.00%

Days on Market:

41

40

2.50%

New Listings: Days on Market:

Class R2

SOURCE: Greater Albuquerque Association of REALTORSÂŽ - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.

3

2nd QTR 2019 & 2018 RECAP for East Mountains (Areas 210-293) Class R1

2019

2018

% of Change

Average Sale Price:

$296,089

$275,269

7.56%

Median Sale Price:

$285,000

$270,000

5.56%

Total Sold & Closed:

138

169

-18.34%

Total Dollar Volume*:

$40.1

$46.5

-13.76%

288

283

1.77%

35

60

-41.67%

New Listings: Days on Market:

2nd QTR 2019 & 2018 RECAP for Valencia County (Areas 690-760) Class R1

2019

2018

% of Change

Average Sale Price:

$193,216

$177,633

8.77%

Median Sale Price:

$175,000

$160,000

9.38%

Total Sold & Closed:

209

189

10.58%

Total Dollar Volume*:

$40.4

$33.6

20.24%

315

331

-4.83%

61

63

-3.17%

New Listings: Days on Market:

The numbers above reflect the time period between April 1 and June 30th of 2018 and 2019. *Total Dollar Volume (millions)

SOURCE: Greater Albuquerque Association of REALTORSÂŽ - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.

4

2nd QTR 2019 Area Summary for single-family home sales Sales 10 20 21 30 31 32 40 41 42 50 51 60 70 71 72 80 90 91 92 93 100 101 102 103 110 111 112 120 121 130 140 141 150 151 152 160 161 162 170 180 210-293 690-760

Sandia Heights North Albuq. Acres Albuq. Acres West Far NE Heights Foothills North Academy West UNM Uptown UNM South NE Heights Foothills South Four Hills Fairgrounds Southeast Heights Mesa Del Sol Downtown Near South Valley Valley Farms Southwest Heights Pajarito North Valley Near North Valley Far North Valley West River Valley Northwest Heights Ladera Heights Canoncito Paradise West Paradise East Corrales Rio Rancho South Rio Rancho Southwest Rio Rancho Mid Rio Rancho Mid-North Rio Rancho Mid-West Rio Rancho North Rio Rancho Central Rio Rancho Northwest Bernalillo/Algodones Placitas East Mountain Area Valencia County

35 49 82 168 44 66 62 116 70 215 64 40 43 74 7 53 55 34 261 8 63 79 14 10 253 164 0 191 131 49 72 1 222 79 16 112 120 2 35 42 138 209

Change Change Change Average Median from 2nd from 2nd from 2nd Sale Price Sale Price QTR 2018 QTR 2018 QTR 2018 25.00% 32.43% 15.49% 18.31% 62.96% 11.86% -13.89% -7.20% 14.75% -22.38% -1.54% 21.21% -2.27% 2.78% -22.22% -5.36% -11.29% 3.03% -10.92% 60.00% -8.70% -4.82% 133.33% 150.00% 10.48% 0.00% N/A 2.14% 15.93% 88.46% -20.88% N/A 12.69% -9.20% 45.45% 21.74% 0.84% N/A 20.69% -10.64% -18.34% 10.58%

$572,183 $578,981 $395,965 $343,146 $582,534 $252,520 $329,808 $197,063 $258,155 $196,037 $323,833 $343,496 $165,848 $224,306 $305,346 $270,010 $152,901 $187,063 $169,219 $171,225 $368,582 $282,775 $407,443 $533,465 $287,245 $197,176 $0 $217,883 $255,571 $532,129 $282,859 $129,500 $228,729 $281,029 $167,072 $289,076 $179,156 $302,938 $270,276 $446,077 $296,089 $193,216

18.70% -9.01% -2.67% 4.70% 3.17% -11.63% 15.46% 10.26% -0.98% 4.44% 2.65% 1.15% -6.62% 6.14% 22.54% 9.72% 21.28% -9.53% 9.63% 0.90% 1.77% -2.86% 4.66% -7.44% 15.32% 11.40% N/A 3.87% 2.14% 2.40% 5.44% N/A 9.58% 2.19% 17.55% 24.62% 7.95% N/A 8.15% 10.70% 7.56% 8.77%

$490,000 $577,500 $359,000 $319,500 $515,000 $255,450 $298,440 $185,000 $230,000 $186,000 $322,500 $339,625 $165,000 $214,000 $295,000 $200,000 $150,000 $159,500 $163,000 $162,400 $300,000 $235,000 $345,000 $422,325 $255,000 $186,000 $0 $209,500 $239,900 $480,000 $257,500 $129,500 $205,000 $278,500 $161,000 $276,950 $175,000 $302,938 $265,000 $463,500 $285,000 $175,000

4.62% -2.94% 1.13% 8.57% 0.00% -8.44% 19.74% 10.78% -3.77% 3.33% 2.38% -0.08% -6.99% 1.18% 27.16% -4.42% 20.36% -8.86% 7.24% 3.44% 10.50% -4.08% 14.86% -23.93% 10.87% 9.41% N/A 3.71% -2.08% 1.69% 5.10% N/A 15.82% 5.09% 6.62% 25.46% 5.42% N/A 4.54% 18.85% 5.56% 9.38%

SOURCE: Greater Albuquerque Association of REALTORSÂŽ - based on data from the the Southwest Multiple Listing Service. Data is deemed reliable not guaranteed.

5

130

2019 Q2 Sales

Sales: 49 Avg: $532,129 Med:$480,000

120

Sales: 191 Avg: $217,883 Med: $209,500

121

102

Sales: 131 Avg: $255,571 Med: $239,900

Sales: 14 Avg: $407,443 Med: $345,000

103

Sales: 10 Avg: $533,465 Med: $422,325

110

Sales: 253 Avg: $287,245 Med: $255,000

100

Sales: 63 Avg: $368,582 Med: $300,000

111

80

Sales: 164 Avg: $197,176 Med: $186,000

Sales: 261 Avg: $169,219 Med: $163,000

Sales: 53 Avg: $270,010 Med: $200,000

90

Sales: 55 Avg: $152,901 Med: $150,000

30

40

Sales: 62 Avg: $329,808 Med: $298,440

70

31

Sales: 44 Avg: $582,534 Med: $515,000

50

Sales: 215 Avg: $196,307 Med: $186,000

42

71

Sales: 70 Avg: $258,155 Med:$230,000

Sales: 74 Avg: $224,306 Med: $214,000

112

Sales: 0 Avg: N/A Med: N/A

51

Sales: 64 Avg: $323,833 Med: $322,500

Sales: 43 Avg: $165,848 Med: $165,000

91

Sales: 34 Avg: $187,063 Med: $159,500

10

Sales: 35 Avg: $572,183 Med: $490,000

41

72

93

Sales: 49 Avg: $578,981 Med: $577,500

Sales: 168 Avg: $343,146 Med:$319,500

Sales: 116 Avg: $197,063 Med: $185,000

Sales: 7 Avg: $305,346 Med: $295,000

Sales: 8 Avg: $171,225 Med: $162,400

20

32

Sales: 66 Avg: $252,520 Med: $255,450

101

Sales: 79 Avg: $282,775 Med: $235,000

92

21

Sales: 82 Avg: $395,965 Med: $359,000

60

Sales: 40 Avg: $343,496 Med: $339,625

2019 Q2 Sales

162

Sales: 2 Avg: $302,938 Med: $302,938

160

161

Sales: 120 Avg: $179,156 Med:$175,000

Sales: 112 Avg: $289,076 Med:$276,950

151

152

Sales: 16 Avg: $167,072 Med:$161,000

150 Sales: 222

Sales: 79 Avg: $281,029 Med:$278,500

Avg: $228,729 Med:$205,000

141 Sales: 1

Avg: $129,500 Med: $129,500

140 Sales: 72

Avg: $282,859 Med:$257,500

170

Sales: 35 Avg: $270,276 Med: $265,000

180

Sales: 42 Avg: $446,077 Med:$463,500

2018 Q2 Sales

220

Sales: 32 Avg: $373,722 Med:$334,950

271

250

240

Sales: 21 Avg: $331,099 Med:$299,500

230

210

Sales: 0 Avg: N/A Med: N/A

Sales: 22 Avg: $335,700 Med:$342,500

Sales: 21 Avg: $303,943 Med:$305,000

270 Sales: 8

Avg: $266,250 Med: $273,500

Sales: 1 Avg: $145,900 Med: $145,900

290

260

Sales: 12 Avg: $227,975 Med:$235,000

280 Sales: 4

Sales: 2 Avg: $283,500 Med:$283,500

Avg: $149,488 Med: $157,475

291

Sales: 7 Avg: $128,471 Med:$114,000

292

231

Sales: 0 Avg: N/A Med:N/A

293

Sales: 3 Avg: $175,000 Med: $62,000

Sales: 5 Avg: $115,800 Med: $49,000

2019 Q2 Sales

700

710

Sales: 53 Avg: $204,440 Med:$205,000

Sales: 18 Avg: $255,517 Med:$232,000

701

Sales: 26 Avg: $209,923 Med:$197,450

720

690

711

Sales: 1 Avg: $67,300 Med: $67,300

Sales: 11 Avg: $260,800 Med:$279,900

740

Sales: 20 Avg: $236,840 Med:$229,500

721

Sales: 33 Avg: $144,498 Med:$145,000

750

730

Sales: 2 Avg: $259,250 Med:$259,250

Sales: 3 Avg: $93,200 Med: $77,600

Sales: 1 Avg: $199,500 Med: $199,500

741

Sales: 20 Avg: $122,194 Med: $111,000

760

742

Sales: 3 Avg: $250,000 Med:$250,000

Sales: 18 Avg: $158,703 Med:$160,000