Albuquerque Real Estate - Housing Market Statistics - MLS Search

Absorption Rate: The number of months it will take to sell the current inventory of homes in a particular price range based on the current sales trend.

The following are the absorption rates for luxury homes in the Albuquerque area. These rates are general and based on a wide area. Narrowing your focus to your specific part of town will affect the numbers. If you are looking to sell your home, I will provide an absorption report based on your home to help determine its best listing price.

As you can see, we are currently in a buyers market. Now is a good time to purchase a luxury home in Albuquerque.

Not surprising, as the price of home sales increases, the number of home sales declines. What is surprising is that the $700,000-$799,000 range has the 2nd highest number of sales. Considering there is a HUGE drop from the $800,000 - $899,999 range, it is worth considering what price range might bring a faster sale. A price reduction of just a few thousand dollars could mean a much faster sale.

The monthly supply chart shows how many months it would take to deplete the inventory of homes currently listed in a price range if no new homes came on the market. Interestingly, the highest priced group is not the one with the highest level of inventory to deplete.

Having a good understanding of the absorption rate of your home can help price it for a faster sale. If getting top dollar is more important to you than a faster sale, then you must be prepared for how long it could take to sell your home.

An absorption rate is just an educated estimate based on past sales. Keeping up-to-date with the monthly absorption rate while your home is on the market can help you stay ahead of the curve so you can price accordingly.