About Albuquerque's Parkland Hills

Here is my November 2009 Northwest Albuquerque Real Estate Report for area 121. Area 121 extends from Unser blvd east to Coors Blvd, Paseo del Norte north the Rio Rancho/Albuquerque Border and includes these neighborhoods: Stonebridge, Paradise Heights, Seven Bar, Paradise Meadows, Paradise Green, Crystal Ridge, Paradise Hills and Eagle Ridge plus others.

Area 121 Closed Sales

The graph represents a 5 year history of the total number of closed sales. As you can see in the graph, closed sales were up considerably this November. This is due, no doubt, to the First Time Home Buyer Tax Credit.

However, the number of closed sales is still way off the peak number of sales in 2005.

This graph represents a 5 year history of the average home sales price. In spite of an increase in closed sales this year the average sales price has declined. I expect the average sales price will continue to decline slightly or remain flat.

90 Day Forecast

Buyers rushed to purchase homes in time to close by the original expiration of the First Time Home Buyer Tax Credit on November 30th. Even though the tax credit has now been extended I expect we will see a considerable drop off in December closed sales as the next wave of first time home buyers wait until after the first of the year to start looking to purchase.

I also expect to see an increase in housing inventory as some sellers list their homes for sale hoping to cash in on the $6,500 tax credit for repeat buyers.

It's important to understand local market conditions when you are looking to buy or sell. When you hear real estate news on the television remember that market conditions can vary greatly from state to state, city to city and neighborhood to neighborhood.

Please call me on my cell at 505.750.1846 if you want to work with a Realtor who is familiar with Real Estate in Northwest Albuquerque and Rio Rancho.

NW Albuquerque Homes for Sale from $150,000 to $175,000
NW Albuquerque Homes for Sale from $175,000 to $200,000
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NW Albuquerque Homes for Sale from $300,000 to $400,000