Sandia Heights October 2012

Here are my Sandia Heights Market Stats Map of Sandia Heights MLS Areafor October 2012. October was a solid month for home sales. The average price per square foot was back up and it appears that home prices are rebounding slightly. The months of home inventory stat, similar to absorption rate, remains low.

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Sandia Heights Home Sales

Total Detached Sales 8
Price Range $230,000 to $575,000
Average Sales Price $417,437
Median Sales Price $451,500
Distressed Sales 0
Attached Sales 2

 

Sandia Heights Home Sales

Home sales in October 2012 matched October 2011 and were up one from September 2011. There were 7 pending sales.

Sandia Heights Home Sales

Sandia Heights Price Per Square Foot

The average price per square foot appears to be improving, up from $154 per square  over the last year to $158 per square over the last 6 months.

Average Price Per Square Foot

Sandia Heights Months of Home Iventory

If you take the number of active listings and divide it by the number of sales in the month, you end up with a number that tells you how many months it will take to exhaust the current amount of home inventory. The higher the number, the longer it will take. More than 6 months of inventory and the market is called a buyer’s market. If the number is below 6 months, it’s a seller’s market. 4.3 months indicates it is a seller’s market in Sandia Heights.

 

Sandia Heights Home Inventory

 

 

Written by Albuquerque Real Estate Agent Rich Cederberg. Please call or text (505) 803-5012 for more information or to receive a complimentary market analysis for your home.

These Sandia Heights market stats were provided by the Southwest MLS on 12/09/2012.

 

 

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