Home sales on the rise in Albuquerque

Posted at: 02/15/2013 4:38 PM
Updated at: 02/15/2013 6:29 PM
By: Adam Camp, KOB Eyewitness News 4

Some positive trends are happening in the Albuquerque housing market.

Realtor Carole Hartman showed off her home in the Northeast Heights at sold at $385,000 in less than 60 days. She said that is one example of the recent housing success.

“This is great. I mean, we've been in a slump for the last four years, but it's turning over and open houses have been exciting. The weather has been cold and we're really seeing the people get out and about,” Hartman said.

The Greater Albuquerque Board of Realtors confirmed Hartman’s experience. A spokeswoman said 4,800 homes were available for sale at the end of 2011. Just one year later, 3,600 homes were left. The board said part of that is because people are buying cheaper homes. The board said 67 percent of the houses sold in January went for $200,000 or less.

One of Hartman’s clients in the heights said his house has gotten lots of nibbles in the two months it has been listed.

“The first open house we've had, we had quite a bit of action. And we've had three or four showings since then. We had a couple of other open houses and they've all been good and positive,” Terry Page said.

Another seller in the heights just put up his home last week.

“The very first day we put it on the market, we had an offer up. A looker, who was supposed to give us an offer,” Mark Matlack said.

Hartman said she expects the buyers’ market to fade fast. She thinks prices could really start picking up by June. The board of realtors confirmed Hartman and said it did expect for many sellers to start surpassing their homes value.