March 2023 Market Statistics

Click the links under 'Downloads' to access the Full Market Report (Monthly Indicators) or the Green Sheet Report for the March 2023 Market Statistics.

Highlights (the highlights are a comparison between January 2022 and January 2023).

Median detached home price increased 3.7 percent to $337,000.

Average detached home price increased 3.2 percent to $384,000.

Overall inventory of detached homes for sales increased 38.2 percent to 944.

Click here to download the complete March 2023 Local Market Snapsot reports, presented by zip code and MLS Area.

Courtesy https://www.gaar.com/market-statistics/monthly/march-2023-market-statistics

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Home Flipping - You're InvitedFlip House

Interested in flipping homes for profit? With almost 60 flips under my belt in the last decade, I can teach you how to evaluate deals, source funding, and understand the differences between wholesale, wholetail, and retail. Let me share my knowledge and experience with you to help you succeed in the competitive world of real estate flipping. From determining repair costs to estimating resale value, I'll guide you through each step of the process. Don't miss out on this opportunity to learn from a seasoned professional.

Who Can Come To The Class: ANYONE! This class is open to anyone interested in learning more and wanting to build wealth.

What you will learn:

  • Where to find the Deal
  • How to Evaluate the Deal
    • …

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Power of Home Equity

If you're a homeowner looking to make a big purchase or consolidate debt, you may have more options than you think. One option is to use your home equity. Your home equity is the value of your home that you own outright, minus any outstanding mortgage payments.

Using your home equity, you can compete with cash offers on a new home, make home repairs to get it ready for sale, pay off debt, or consolidate debt. And, with a 5-day close, you can get the funds you need quickly.

Competing with cash offers on a new home can be challenging, but using your home equity can give you an advantage. With the ability to offer a quick close, you can make your offer more attractive to sellers who are looking for a fast sale. And, with your…

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It's not always about the interest rate

Buying a house is a significant investment and a major decision that requires careful consideration. Many people believe that the most crucial factor when purchasing a home is the interest rate. However, there are several other crucial factors to consider that go beyond just the interest rate.

Firstly, location is an important factor to consider when buying a house. It's essential to choose a location that suits your lifestyle and meets your needs. For example, if you have children, you may want to consider a neighborhood with good schools and plenty of recreational opportunities. Similarly, if you work in the city, you may want to choose a location that is near your workplace to reduce your commuting time.

…

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Curious About Your Home Value

Are you curious about the current value of your home in Albuquerque, Rio Rancho, or Los Lunas? Look no further than MyHomeValueNM.com! This website provides accurate and up-to-date estimates of home values in these areas. The real estate market in Albuquerque has been steadily increasing in recent years, with a current average home value of around $325,000. Rio Rancho and Los Lunas have also seen growth in home values, with averages of $290,000

Whether you're looking to sell your home or simply want to keep track of its value, MyHomeValueNM.com is a valuable resource for homeowners in these areas.

  • What you can expect to see on your home value report:
  • Current Market Value
  • Equity Position
  • Calculator (if you…

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February Market Statistics 2023

Click the links under 'Downloads' to access the Full Market Report (Monthly Indicators) or the Green Sheet Report for the February 2023 Market Statistics.

  • Highlights (the highlights are a comparison between January 2022 and January 2023).
  • Median detached home price increased 3.2 percent to $325,000.
  • Average detached home price increased -0.5 percent to $366,279.
  • Overall inventory of detached homes for sales increased 30.2 percent to 896.

Click here to download the complete February 2023 Local Market Snapsot reports, presented by zip code and MLS Area.

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St. Patrick's Day Events

St. Patricks Day ShamrockSt. Patrick's Day at Neighbors Westside Bar and Grill
Fri, Mar 17, 4 – 7 PM
Neighbors Westside Bar & Grill | 2101 Vista Oeste NW, Albuquerque, NM

St. Patrick's Day Event
Fri, Mar 17, 9 AM – 6 PM
Osuna Nursery | 501 Osuna Rd NE, Albuquerque, NM

Albuquerque Shamrock Stroll St Patrick's Day Weekend Bar Crawl
Sat, Mar 18, 1 PM
Albuquerque, NM

Lucky's St. Patrick's Day Crawl - Albuquerque (Fri & Sat) - 6th Annual
Fri, Mar 17, 4:00 PM – Sat, Mar 18, 11:59 PM
Bourbon & Boots | 325 Central Ave NW, Albuquerque, NM

DJ Fishbowl
Fri, Mar 17, 6 – 11 PM
Tractor Brewing Company Westside | 5720 McMahon Blvd NW Albuquerque, NM

St. Patty's Day Party
Fri, Mar 17, 8:00 PM – Sat, Mar 18, 1:30 AM
The Salt Yard - West | 3700 Ellison Dr NW,…

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January Market Statistics 2023

Click the links under 'Downloads' to access the Full Market Report (Monthly Indicators) or the Green Sheet Report for the January 2023 Market Statistics.

  • Highlights (the highlights are a comparison between January 2022 and January 2023).
  • Median detached home price increased 1.9 percent to $316,000.
  • Average detached home price increased 3.6 percent to $361,750.
  • Overall inventory of detached homes for sales increased 29.1 percent to 950.

Click here to download the complete January 2023 Local Market Snapsot reports, presented by zip code and MLS Area.

Credit GAAR

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Looking back 2022 was a great year for home buyers and sellers. The market is 'upside down', meaning every buyer/seller situation is different, interest rates continue to increase however I am still seeing multiple offers over list price at certain price points. Contact me to discuss.


For the 2022 Greater Albuquerque area housing market:

The average annual sales price for single-family detached homes rose 11.08% to $378,491.

The median annual sales price for single-family detached homes grew 13.79% to $330,000.

The number of attached and detached home sold decreased 20.95% to 11,858 transactions in 2022.


Download the Full Report Here - Credit GAAR

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