April 2009 Monthly Market Report · April 2009 - April 2009 6.77 6.84 7.28 7.38 8.85 9.04 10.75...
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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 April 2009 Monthly Market Report Monthly Highlights • Pending Sales for detached, single family homes are up 11.8% from the previous month and only 3.0% down from April 2008. (page 4) • The Days on Market it takes to sell a detached single-family home is on the decline for the second month in a row. (page 8) • 41.8 % of detached single-family homes sales in April used FHA Financing. • Single-family home sales in Rio Rancho are identical to the April 2008 sales but the average sales price went down 14.9%. (page 11) Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
Transcript of April 2009 Monthly Market Report · April 2009 - April 2009 6.77 6.84 7.28 7.38 8.85 9.04 10.75...
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
April 2009 Monthly Market Report
Monthly Highlights• Pending Sales for detached, single family homes are up 11.8% from the previous month and only 3.0% down from April 2008. (page 4)
• The Days on Market it takes to sell a detached single-family home is on the decline for the second month in a row. (page 8)
• 41.8 % of detached single-family homes sales in April used FHA Financing.
• Single-family home sales in Rio Rancho are identical to the April 2008 sales but the average sales price went down 14.9%. (page 11) Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
2
Market Inventory
438
612 655
0
100
200
300
400
500
600
700
Apr-07 Apr-08 Apr-09
Condo/Townhomes on MarketApril 2007 - April 2009
4,990
5,943
5,399
4,4004,6004,8005,0005,2005,4005,6005,8006,0006,200
Apr-07 Apr-08 Apr-09
Single Family Homes on MarketApril 2007 - April 2009
SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.
5,399+ 655
TOTAL: 6,054
Total Active ListingsClass R1 & R2
As of May 5, 2009:Class R1 Active as of May 5, 2009:Class R2 Active as of May 5, 2009:
-Detached represents Existing Single-Family Detached Homes -Attached represents Existing Condo/Townhomes Attached Homes
3
New Listings this month 1,461
Compared to last month
3.3%
Compared to April 2008
19.1%
New Listings
Greater Albuquerque Market ActivityApril 2006 - April 2009
0
500
1,000
1,500
2,000
2,500
3,000
Apr-06
Oct-06
Apr-07
Oct-07
Apr-08
Oct-08
Apr-09
# of
Lis
tings
Pending Sold New
New Listings detachedMonth/Year 2005 2006 2007 2008 2009Jan 926 1,622 1,952 1,817 1,483Feb 727 1,501 1,897 1,615 1,272Mar 1,397 1,837 2,581 1,800 1,415Apr 1,661 1,869 2,491 1,805 1,461May 1,242 2,259 2,639 1,956Jun 1,918 2,381 2,755 1,878Jul 1,873 2,324 2,615 1,882Aug 1,845 2,473 2,742 1,668Sep 1,590 2,157 2,127 1,502Oct 1,790 2,133 2,393 1,411Nov 1,335 1,528 1,372 1,121Dec 1,049 1,297 1,064 917
SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.
4
Greater Albuquerque Market ActivityApril 2006 - April 2009
0
500
1,000
1,500
2,000
2,500
3,000
Apr-06
Oct-06
Apr-07
Oct-07
Apr-08
Oct-08
Apr-09
# of
Lis
tings
Pending Sold New
Pending Sales this month 836 Compared to last month
11.8% Compared to April 2008
3.0%
Pending Sales
Pending Sales detachedMonth/Year 2005 2006 2007 2008 2009Jan 942 1,051 935 884 571Feb 1,037 1,187 1,034 768 530Mar 1,064 1,316 1,155 836 748Apr 1,370 1,289 1,148 862 836May 1,297 1,361 1,157 869Jun 1,414 1,264 1,108 857Jul 1,448 1,249 1,058 871Aug 1,419 1,211 911 723Sep 1,227 1,037 758 706Oct 1,229 1,042 665 575Nov 1,031 900 645 493Dec 787 729 543 477
SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.
5
Greater Albuquerque Market ActivityApril 2006 - April 2009
0
500
1,000
1,500
2,000
2,500
3,000
Apr-06
Oct-06
Apr-07
Oct-07
Apr-08
Oct-08
Apr-09
# of
Lis
tings
Pending Sold New
Closed Sales
Closed Sales this month 542 Compared to last month
16.6%
Compared to April 2008
15.4%
Closed Sales detachedMonth/Year 2005 2006 2007 2008 2009Jan 627 754 662 408 324Feb 725 836 741 532 343Mar 835 1,111 964 624 465Apr 937 1,002 910 641 542May 1,174 1,152 1,020 674Jun 1,159 1,140 1,011 738Jul 1,231 1,123 992 704Aug 1,267 1,126 833 619Sep 1,187 990 716 604Oct 1,055 917 687 511Nov 1,021 824 556 411Dec 924 787 516 412
SOURCE: Greater Albuquerque Association of REALTORS® Southwest MLS Sales Data is deemed reliable but not guaranteed.
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Closed Sales by Market Area
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
10-121 130 140-162 170 180 210-293 690-760
Apr-08 467 7 89 4 6 33 35
Apr-09 374 4 89 6 4 22 43
0
50
100
150
200
250
300
350
400
450
500
# of
Hom
es S
ales
April 2008 & 2009 Detached Sales
Apr-08 Apr-09
10-121 130 140-162 170 180 210-293 690-760
Apr-08 57 0 8 0 0 0 2
Apr-09 47 0 2 0 0 0 3
0
10
20
30
40
50
60
# o
f H
om
es S
ales
April 2008 & 2009 Attached Sales
Apr-08 Apr-09
7
Closed Sales by Price
< 30k 30k -39k
40k -49k
50k -59k
60k -69k
70k -79k
80k -89k
90k -99k
100k -
119k
120k -
139k
140k -
159k
160k -
179k
180k -
199k
200k -
249k
250k -
299k
300k -
399k
400k -
499k
500k -
749k
750k -
999k1m+
Detached 2 1 0 3 2 5 4 17 35 69 78 70 56 75 48 40 23 14 0 0Attached 0 0 0 0 1 0 2 3 10 6 9 8 4 5 3 1 0 0 0 0
0
10
20
30
40
50
60
70
80
90
Closed Sales by PriceApril 2009
Top Selling Price Range for Detached Homes $140,000-$159,000
Top Selling Price Range for Attached Homes $100,000-$119,000
Days on Market by Sale Price
< 99k 100k -119k
120k -139k
140k -159k
160k -179k
180k -199k
200k -249k
250k -299k
300k -399k
400k -499k
500k -749k
750k -999k 1m+
Avg. DOM 88 59 83 79 91 81 88 75 118 88 89 0 0
0
20
40
60
80
100
120
140
Days on Market by Sale PriceApril 2009 Sales (Detached)
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Home Sales PricesSales PriceApril 2006 - April 2009
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
Apr-06
Oct-06
Apr-07
Oct-07
Apr-08
Oct-08
Apr-09
Median Sales PriceAverage Sales Price
Median Sales Price for Single Family Homes $175,500
Average Sales Price for Single Family Homes $206,070
Days on MarketAvg Days on Market ( 85 DOM for April)
0
20
40
60
80
100
120
Apr-0
6
Oct-06
Apr-0
7
Oct-07
Apr-0
8
Oct-08
Apr-0
9
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® Southwest MLS Sales Data is deemed reliable but not guaranteed.
9
Absorption Rate
Supply-Demand Ratio
April 2009 - April 2009
6.77 6.84 7.28 7.388.85 9.04
10.7512.09 12.04
9.15 10.02
7.18 6.39
02468
101214
Apr-0
8
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
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
April 2008 - April 2009
7.558.13 8.64 8.91 9.28 9.25 9.16 9.14
8.47 8.85 9.03 9.07 9.27
0123456789
10
Apr-08
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
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.
Mon
th S
uppl
y of
Hom
es
10M
arke
t Ove
rvie
w
SOU
RC
E: G
reat
er A
lbuq
uerq
ue A
ssoc
iatio
n of
REA
LTO
RS ®
So
uthw
est M
LS S
ales
Dat
a is
dee
med
relia
ble
but n
ot g
uara
ntee
d.
2009
(DET
)20
09(D
ET)
2008
Perc
ent
Chan
ge(A
TT)
2009
(ATT
)20
08Pe
rcen
t Ch
ange
(DET
+ATT
) 20
09 Y
ear-
to-
Date
(DET
+ATT
) 20
08 Y
ear-
to-
Date
Perc
ent
Chan
ge
New
Lis
tings
Apr
1,46
11,
805
-19.
06%
145
188
-22.
87%
6,29
07,
790
-19.
26%
May
1,95
6--
206
--9,
952
--
Jun
1,87
8--
168
--11
,998
--
Pend
ing
Sale
sAp
r83
686
2-3
.02%
8598
-13.
27%
2,94
73,
719
-20.
76%
May
869
--92
--4,
680
--
Jun
857
--89
--5,
626
--
Clos
ed S
ales
Apr
542
641
-15.
44%
5267
-22.
39%
1,83
72,
463
-25.
42%
May
674
--72
--3,
209
--
Jun
738
--85
--4,
032
--
Apr
$111
.6$1
45.5
-23.
30%
$8.1
$10.
7-2
4.30
%$3
80.0
$548
.0-3
0.66
%
May
$166
.7--
$12.
9--
$727
.6--
Jun
$183
.3--
$13.
9--
$924
.8--
Med
ian
Sale
s Pr
ice
Apr
$175
,500
$189
,000
-7.1
4%$1
53,7
00$1
52,0
001.
12%
----
--
May
$205
,000
--$1
63,5
00--
----
--
Jun
$203
,500
--$1
57,0
00--
----
--
Ave
rage
Sal
es P
rice
Apr
$206
,070
$227
,281
-9.3
3%$1
56,4
20$1
60,2
48-2
.39%
----
--
May
$247
,295
--$1
80,0
35--
----
--
Jun
$248
,375
--$1
64,5
10--
----
--
Tota
l Act
ive
Apr
5,39
95,
943
-9.1
5%65
561
27.
03%
----
--
List
ings
Ava
ilabl
eM
ay6,
241
--63
2--
----
--
Jun
6,42
8--
646
----
----
Ave
rage
Day
s on
Mar
ket
Apr
8566
28.7
9%10
575
40.0
0%--
----
May
65--
67--
----
--
Jun
68--
62--
----
--
Dolla
r Vol
ume
of C
lose
d Sa
les
(in m
illion
s)
11
Mar
ket C
ompa
rison
SOU
RC
E: G
reat
er A
lbuq
uerq
ue A
ssoc
iatio
n of
REA
LTO
RS ®
So
uthw
est M
LS S
ales
Dat
a is
dee
med
relia
ble
but n
ot g
uara
ntee
d.
RIO
RAN
CH
O(D
ET)
2009
(DET
)20
08Pe
rcen
t C
hang
eAB
Q A
REA
(DET
)20
09(D
ET)
2008
Perc
ent
Cha
nge
New
Lis
tings
Apr
255
300
-15.
00%
New
Lis
tings
Apr
970
1,20
7-1
9.64
%
May
309
May
1,31
5
Jun
371
Jun
1,26
4
Pend
ing
Sale
sA
pr14
615
3-4
.58%
Pend
ing
Sale
sA
pr59
059
5-0
.84%
May
130
May
645
Jun
122
Jun
625
Clo
sed
Sale
sA
pr89
890.
00%
Clo
sed
Sale
sA
pr37
446
7-1
9.91
%M
ay11
2M
ay47
8
Jun
98Ju
n54
8
Med
ian
Sale
s Pr
ice
Apr
$160
,000
$184
,000
-13.
04%
Med
ian
Sale
s Pr
ice
Apr
$178
,000
$189
,000
-5.8
2%M
ay$1
95,7
50M
ay$2
01,0
00
Jun
$187
,000
Jun
$207
,000
Ave
rage
Sal
es P
rice
Apr
$185
,886
$218
,422
-14.
90%
Ave
rage
Sal
es P
rice
Apr
$205
,901
$227
,641
-9.5
5%M
ay$2
19,2
09M
ay$2
44,3
30
Jun
$199
,978
Jun
$249
,198
Tota
l Act
ive
Apr
934
1,04
5-1
0.62
%To
tal A
ctiv
eA
pr3,
245
3,64
7-1
1.02
%M
ay1,
113
May
3,76
6
Jun
1,16
0Ju
n3,
886
Ave
rage
Day
s on
Mar
ket
Apr
103
7145
.07%
Ave
rage
Day
s on
Mar
ket
Apr
7060
16.6
7%M
ay74
May
61
Jun
75Ju
n63
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