If you're a seller in today's real estate market, it sure helps if your home is located in one of the "quick sale" areas of town. Even in Albuquerque, NM, which has one of the better real estate markets in the country right now, homes sales have slowed since the peak times of 2005 and 2006. But, of course, it all comes down to the old story of "location, location, location..."

and some areas are just hotter than others!

So, how did Albuquerque areas stack up for numbers of homes sold during the past quarter? A glance at the chart below gives a good snapshot:

It's easy to see that the Southwest Heights was the big winner with 145 sales during the quarter, for an average price of $143,371. The Northeast Heights was the second best-selling location, with 128 sales closed during the period, followed by Paradise West (including Ventana Ranch) and Mid Rio Rancho, with the Far Northeast Heights rounding out the top five.

Are these always the top selling areas? Not really. The statistics were a bit different for the first quarter of last year. Once again, the chart makes it easy to see what's going on:

 (Information for both charts above is from data provided by Southwest Multiple Listing System for the first quarters of 2008 and 2007 respectively.)

It's interesting that last year also, the Southwest Heights, Northeast Heights, and Paradise West led the pack during the 1st quarter. But the fourth and fifth place positions were quite different last year than they are this year. In 2007, the fourth highest number of sales were in the Northwest Heights, and the fifth spot was taken by Ladera Heights. Neither appeared in the top 5 in 2008!

This is even more interesting when one looks at the actual number of sales. First-place in Albuquerque home sales in both years went to the Southwest Heights-- but look at the difference in actual numbers! 233 home sales in the first quarter of 2007, but only 140 in the first  quarter of 2008! Similar drops in number of sales occured from one year to the next in the Northeast Heights and in Paradise West, as well. The Northwest Heights and Ladera Heights, with 140 home sales and 130 home sales respectively in the 2007 first quarter, fell to below the 79 home sales racked up by the Far Northeast Heights when the first quarter of 2008 rolled around.

In Albuquerque, the general rule is that while average home prices have held fairly steady, the number of sales has dropped significantly, and that has been the case in all areas in the Albuquerque MLS system.

Interested in more detailed Albuquerque home sales statistics? You'll find lots of current market data live online on our great new website, www.HomesNM.com! Visit now, or contact any of our outstanding RE/MAX Alliance REALTORS today! You can always reach us toll-free at (800)294-5757, or by email at info@homesnm.com