It’s the end of June, what does this mean for buyers in the greater Albuquerque area? abq expert is here with your buyer market snapshot.
As we come to a close on the month of June, let’s take a loot at what the real estate market is looking like in the greater Albuquerque area and what this means for you as a buyer.
I said it earlier this month, and I’ll say it again. The month of June was a hot and competitive real estate market in Albuquerque for buyers. There is record low inventory and large amounts of other buyers entering the playing field because of record low mortgage interest rates. For some hard residential real estate numbers, on June 28th (within the last 24 hours of that date) there was:
- 52 New Listings
- 74 Pending Sales
- 20 Closed Sales
These numbers are for Albuquerque and it’s surrounding metropolitan areas and were only within the last 24 hours of the 28th. This means very little homes were hitting the market and many were going into pending. These numbers, especially for closed sales, will only continue to increase as we inch closer to the end of the month.
This doesn’t mean that buyers are unable to get into a home, it just means that they have to find the right real estate agent to help them get there. Again, researching that REALTOR who knows how to write that aggressive offer. This is key when buyers have the potential of entering into a multiple offer situation. We are seeing these come up in desirable neighborhoods and priced homes.
If you want to buy a home, whether it is your first or fifth, I would love to help you get there. Reach out today and let’s write the next chapter of your homeownership story!
Elizabeth Benedict is an Associate Broker and REALTOR® at ERA Sellers and Buyers Real Estate in Albuquerque, New Mexico. She holds a Masters in Literature from the University of New Mexico. When she is not helping her community buy and sell houses she is usually writing.