Increased Demand and Tight Inventory Indicate a Healthy Market

The Albuquerque Journal is reporting that residential housing inventory has dropped, prices are up, and interest rates remain low. That’s good news for the Albuquerque market.

“We have slightly less than a three-month supply,” said Jon Schnoor, 2016 president of the Greater Albuquerque Association of Realtors. “Our biggest issue now is (sufficient) inventory,” he said, hopeful that more sellers will pull the trigger in the next few months to accommodate eager buyers.

“If sellers have a nice home priced well in a good location, they are entertaining several offers,” said Schnoor. “We haven’t really seen that many (competing buyers) in six or seven years.” (Albuquerque Journal)

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We may be quaint, but we pack a punch!

Recently, the Albuquerque Business First released The List: Residential Real Estate Firms Ranked by NM Gross Sales (2015). At the time these statistics were compiled, we had just 8 producing brokers. Yet our quaint, locally owned and locally grown Vista Encantada posted some pretty impressive numbers!

According to this list, of the companies that participated in the survey, Vista Encantada Realtors ranks #14 in production in the State of New Mexico. Keep in mind that many of the companies in this top 25 list have significantly more brokers working for them (for example, #13 had 20, #14 had 38…some of the top companies have hundreds). So, while we may be small in our number of brokers, there is nothing small about our productivity!
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