Albuquerque, NM (January 28, 2022)
Total sales of single-family detached homes in the Greater Albuquerque market rose 8.5% percent from the previous year to top 15,000 sales for the first time. Home sales prices also saw record highs with the Median Sales Price of $290,000 rising 26.5% percent from the previous year and an Average Sales Price of $336,518, increasing 29.1% percent from 2020.
Condo/townhomes that sold in the Greater Albuquerque market were up 16.1% percent with 1,480 reported for the year, also the highest ever. The Average Sales Price for condo/townhomes rose 26.6 percent from the prior year to $216,690, while the Median Sales Price rose 30.4% percent to $210,000.
In 2021, most homes were sold within the first thirty days of being on the market, with 85.2 percent selling within 30 days of being listed in the Southwest Multiple Listing Service. Only 3.9 percent of detached home sales were on the market 90 days or longer. Historically low inventory and a shortage of available homes for buyers was a common theme in 2021, finishing the year with only 639 single-family homes for sale.
“The market data shows us that 2021 was record-breaking across the board,” said Bridget Gilbert, 2022 President of the Greater Albuquerque Association of REALTORS®. She added, “Low-interest rates and buyer demand fueled a fast-paced year for REALTORS® guiding their customer through a tough market.”
To see the full report for 2021 annual market statistics, go to the GAAR.com Market Statistics section.
For more specific information about market segments, neighborhoods and price, don’t hesitate to reach out to me anytime!
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Linda DeVlieg Killman
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