"Albuquerque's median list price rose 3.2% year-over-year to $389,500, while the national median actually fell 2.1%. Sellers who priced with confidence didn't feel pressure to budge."
"Only 550 homes entered the market in February, a drop of 12.7% from a year ago, while nationally new listings actually rose 2.4%. Fewer fresh listings means less choice and less room to negotiate."
"The median days on market climbed to 71 days, up nearly 16% from a year ago, outpacing the national increase of 5.3%. Listings that have been sitting for several weeks are worth a closer look."
Albuquerque's real estate market is experiencing a tightening phase, with fewer homes available and rising prices. In February, only 550 homes were listed, a 12.7% decrease from the previous year, while the national market saw an increase in new listings. The median list price in Albuquerque rose by 3.2% to $389,500, contrasting with a national decline. Homes are taking longer to sell, with the median days on market increasing to 71 days, indicating a shift in buyer behavior without a decrease in demand.
Read at SFGATE
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