Albuquerque Luxury Home market for 2014…
So I wanted to check out the Luxury home market for the Greater Albuquerque area including Rio Rancho, East Mountain Area and Placitas. I looked at all closed homes priced over $500,000 in the South West MLS. I looked at closed transaction from September 1, 2013 through February 14, 2014. Then I compared that to the same time during 2012-2013.
Here it is broken down. 2013-2014 homes closed listed over $500,000: 162 homes, Total volume of $109,605,000, the homes averaged selling for 95% of list price and the average closed price was $676,000. During 2012-2013 for the same time period homes closed listed over $500,000: 134 homes, Total volume of $85,032,000 the homes averaged selling for 94% of list price and the average closed price was $634,000.
This is great news for those who are thinking about listing and selling their high end Albuquerque Home.