Market Holding Steady
Eloise Gift www.EloiseGift.com
The Greater Albuquerque area's official residential market report for February is out.
The Albuquerque Metropolitan Board of Realtors reported that in February 2007, the residential real estate market is moving more slowly than in February 2006.
Although new listings decreased in to 1,897 in February, 2007 from 1,952 in February 2006, inventory remained high with almost five hundred residential 
properties in the system.
Time on market increased, and in February, 2007, the average time on market was 82 days compared to February 2006 when houses were on the market for an average of 72 days.
In February, supply remained strong relative to demand. However, in spite of the high supply and apparently low demand, both median and average prices remained stable, as they have for the past 8 months. The median residential home price stayed at $189, 800 and the average sales price at $234,146.
Market shift in theGreater Albuquerque area residential real estate market may still be described as a being a ripple rather than a roller-coaster ride.
-Source: The Albuquerque Metropolitan Board of Realtors
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Eloise Gift, bilingual, Albuquerque, New Mexico real estate broker helps people realize their real estate dreams - "to go from one little piece of Holy Ground to the next.
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Oh, but Eloise don't forget the year is young! Once it gets to the top of the 1st hill it will speed up.
Glad to hear your market is holding, here is hoping you will have a great year.
Danny- You are so right. That's why I prefer ripples. Of course, if it's going in the right direction, I will enjoy the thrill of the ride.
Jennifer-We are crossing our fingers and toes and watching the economy, hooping it stays strong. I wish for you a great year also.