Contents Market Inventory 2 New Listings 3 Pending Sales 4 Closed Sales 5 Closed Sales by Market Area 6 Closed Sales by Price & Days on Market by Price 7 Home Sales Prices 8 Days on Market 8 Supply-Demand Ratio 9 Absorption Rate 9 Market Overview 10 Market Comparison 11 Sales by Area (color chart) 12 May 2009 Monthly Market Report Monthly Highlights • Single-family, detached homes sales increased 4.4% from the previous month. (page 5) • The average sales price of single-family, detached homes in the SWMLS market area is at it’s highest since October 2008. (page 8) • The days on market for single-family (detached) homes dropped for the third consecutive month. (page 8) • For the second time this year, Pending homes sales for Rio Rancho single-family, detached homes exceeded the previous month and the previous year’s (May 2008) totals. (page 11) Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
Transcript
ContentsMarket Inventory 2New Listings 3Pending Sales 4Closed Sales 5Closed Sales by Market Area 6Closed Sales by Price & Days on Market by Price 7 Home Sales Prices 8Days on Market 8Supply-Demand Ratio 9 Absorption Rate 9Market Overview 10 Market Comparison 11Sales by Area (color chart) 12
May 2009 Monthly Market Report
Monthly Highlights• Single-family, detached homes sales increased 4.4% from the previous month. (page 5)
• The average sales price of single-family, detached homes in the SWMLS market area is at it’s highest since October 2008. (page 8)
• The days on market for single-family (detached) homes dropped for the third consecutive month. (page 8)
• For the second time this year, Pending homes sales for Rio Rancho single-family, detached homes exceeded the previous month and the previous year’s (May 2008) totals. (page 11) Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
2
Market Inventory
437
632 660
0
100
200
300
400
500
600
700
May-07 May-08 May-09
Attached homes on marketMay 2007 - May 2009
5,292
6,241
5,422
4,800
5,000
5,200
5,400
5,600
5,800
6,000
6,200
6,400
May-07 May-08 May-09
Detached homes on marketMay 2007 - May 2009
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
-Detached represents existing single-family detached homes -Attached represents existing condo/townhomes attache homes
5,422+ 660
TOTAL: 6,082
Total Active ListingsClass R1 & R2
As of June 5, 2009:Class R1 Active as of June 5, 2009:Class R2 Active as of June 5, 2009:
3
New Listings this month 1,472
Compared to last month
.8 %
Compared to May 2008
24.7%
New Listings
Greater Albuquerque Market ActivityMay 2006 - May 2009
0
500
1,000
1,500
2,000
2,500
3,000
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
# of
Lis
tings
Pending Sold New
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
SWMLS Market Areas 10-121 City of Albuquerque 130 Corrales 140-162 Rio Rancho 170 Bernalillo 180 Placitas 210-293 East Mountains 690-760 Los Lunas, Belen, Bosque Farms
Days on Market by Sale PriceMay 2009 Sales (Detached)
8
Home Sales PricesSales PriceMay 2006 - May 2009
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
Median Sales PriceAverage Sales Price
Median Sales Price for Single Family Homes $184,750
Average Sales Price for Single Family Homes $222,070
Days on MarketAvg Days on Market ( 78 DOM for May 2009)
0
20
40
60
80
100
120
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
The Days on Market is determined by calculating the total days it takes for a property to be listed as active on the market until it goes under contract or pending.
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
9
Absorption Rate
Supply-Demand Ratio
May 2008 - May 2009
6.84 7.28 7.388.85 9.04
10.7512.09 12.04
9.15 10.02
7.18 6.39 6.31
02468
101214
May-0
8
Jun-
08Ju
l-08
Aug-0
8
Sep-0
8
Oct-08
Nov-0
8
Dec-0
8
Jan-
09
Feb-
09
Mar-0
9
Apr-0
9
May-0
9
The Supply-Demand Ratio is calculated by comparing the number of homes for sale at the beginning of each month w ith the number of total pending sales for the month. The higher the Supply-Demand Ratio, the more
supply there is relative to demand.
Num
ber
of A
ctiv
e Li
stin
gs
for
Eac
h B
uyer
May 2008 - May 2009
8.13
8.648.91
9.28 9.25 9.16 9.14
8.478.85
9.03 9.079.27 9.41
7
8
8
9
9
10
10
May-08
Jun-0
8Ju
l-08
Aug-08
Sep-08
Oct-08
Nov-08
Dec-08
Jan-0
9
Feb-09
Mar-09
Apr-09
May-09
The Absorption Rate measures how long it w ill take to exhaust or sell our current supplyof housing inventory. A six month supply is traditionally considered an average market.
