Albuquerque, NM home prices and housing market

Albuquerque sellers are asking about four hundred three thousand dollars, but more than a quarter of listings have already cut their price. If you are thinking about selling this year, that gap between asking and reality is the whole story. The typical Albuquerque home is worth about three hundred fifty-four thousand dollars, up just under two percent from a year ago. That is real appreciation, but it is slow, and buyers know it. The median list price sits roughly forty-nine thousand dollars above what homes are actually valued at, so a lot of sellers are reaching. Here is the turn: values are still rising, so this is not a falling market. But homes are taking about sixty days to sell, and with around one thousand two hundred fifty homes on the market and 650 more hitting each month, buyers have room to wait. That is why so many sellers are now chasing the market down. If you sell, price at or just below what your home is worth, because an ambitious list price earns you two months of waiting followed by a very public price cut. Find out where your home really stands with a free value estimate at Home Value Pros dot com.