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