February 2008 Home Sales Report

Published on Nov 06, 2008

February proved to be another successful month for the Greater Albuquerque Real Estate Market. Realtors are still selling homes, buyers are still getting GREAT deals, and banks are still lending at incredibly low rates.

More than 1400 hundred real estate contracts were written in February and the time on the market stayed steady from January at 71 days. The $226,000 average sales price is still affordable compared to the east and west coasts - the main relocation areas.

Keep in mind that the term "typical market" doesn't exist in our area anymore. Our population has grown by leaps and bounds and the northwest corridor is the greatest area of transition at
this time. The market for the Greater Albuquerque region is still strong. And why wouldn't it be? We continue to be known for our wonderful heritage, our great seasonal activities, and in general, just a great place to live. Truly, Land of Enchantment!

I know that Realtors out there, are really working hard for both buyers and sellers. We're not going to let the gloom and doom of the media steer us away from the important job we have,
helping New Mexicans achieve the Great American Dream of Home ownership! Contact a Realtor from the Greater Albuquerque Association of REALTORS®. Our National Association has been around for over 100 years. For more information, call or click at www.gaar.com.

Cathy M. Olson, CRS, 2008 Chairman of the Board
505-263-7995
cathy@ambr.org