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
May 2009 Monthly Market Report
Monthly Highlights• Single-family, detached homes sales increased 4.4% from the previous month. (page 5)
• The average sales price of single-family, detached homes in the SWMLS market area is at it’s highest since October 2008. (page 8)
• The days on market for single-family (detached) homes dropped for the third consecutive month. (page 8)
• For the second time this year, Pending homes sales for Rio Rancho single-family, detached homes exceeded the previous month and the previous year’s (May 2008) totals. (page 11) Contact: Don Padilla, Chairman of the Board, 505-275-3615, [email protected]
2
Market Inventory
437
632 660
0
100
200
300
400
500
600
700
May-07 May-08 May-09
Attached homes on marketMay 2007 - May 2009
5,292
6,241
5,422
4,800
5,000
5,200
5,400
5,600
5,800
6,000
6,200
6,400
May-07 May-08 May-09
Detached homes on marketMay 2007 - May 2009
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
-Detached represents existing single-family detached homes -Attached represents existing condo/townhomes attache homes
5,422+ 660
TOTAL: 6,082
Total Active ListingsClass R1 & R2
As of June 5, 2009:Class R1 Active as of June 5, 2009:Class R2 Active as of June 5, 2009:
3
New Listings this month 1,472
Compared to last month
.8 %
Compared to May 2008
24.7%
New Listings
Greater Albuquerque Market ActivityMay 2006 - May 2009
0
500
1,000
1,500
2,000
2,500
3,000
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
# of
Lis
tings
Pending Sold New
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
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 1,956 1,472Jun 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
4
Greater Albuquerque Market ActivityMay 2006 - May 2009
0
500
1,000
1,500
2,000
2,500
3,000
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
# of
Lis
tings
Pending Sold New
Pending Sales this month 856 Compared to last month
2.4% Compared to May 2008
1.5%
Pending Sales
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
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 1,157 869 856Jun 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
5
Greater Albuquerque Market ActivityMay 2006 - May 2009
0
500
1,000
1,500
2,000
2,500
3,000
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
# of
Lis
tings
Pending Sold New
Closed Sales
Closed Sales this month 566 Compared to last month
4.4%
Compared to May 2008
16.0%
SOURCE: Greater Albuquerque Association of REALTORS®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
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 1,020 674 566Jun 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
6
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
May-08 478 6 112 2 10 29 37
May-09 413 8 89 2 3 21 30
0
100
200
300
400
500
600
# of
Hom
es S
ales
May 2008 & 2009 Detached Sales
May-08 May-09
10-121 130 140-162 170 180 210-293 690-760
May-08 68 0 3 0 0 0 1
May-09 44 0 7 0 0 0 0
0
10
20
30
40
50
60
70
80
# o
f H
om
es S
ales
May 2008 & 2009 Attached Sales
May-08 May-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 1 2 2 2 1 6 6 14 35 55 75 74 60 84 55 48 23 16 4 3Attached 0 1 0 0 0 2 0 6 4 6 8 7 5 6 2 3 1 0 0 0
0
10
20
30
40
50
60
70
80
90
Closed Sales by PriceMay 2009
Top Selling Price Range for Detached Homes $200,000 -$249,000
Top Selling Price Range for Attached Homes $140,000 - $159,000
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 51 56 64 82 71 78 76 100 83 100 109 55 100
0
20
40
60
80
100
120
Days on Market by Sale PriceMay 2009 Sales (Detached)
8
Home Sales PricesSales PriceMay 2006 - May 2009
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
Median Sales PriceAverage Sales Price
Median Sales Price for Single Family Homes $184,750
Average Sales Price for Single Family Homes $222,070
Days on MarketAvg Days on Market ( 78 DOM for May 2009)
0
20
40
60
80
100
120
May-06
Nov-06
May-07
Nov-07
May-08
Nov-08
May-09
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®. Based on data reported in the Southwest MLS. Data is deemed reliable but not guaranteed.
9
Absorption Rate
Supply-Demand Ratio
May 2008 - May 2009
6.84 7.28 7.388.85 9.04
10.7512.09 12.04
9.15 10.02
7.18 6.39 6.31
02468
101214
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
May-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
May 2008 - May 2009
8.13
8.648.91
9.28 9.25 9.16 9.14
8.478.85
9.03 9.079.27 9.41
7
8
8
9
9
10
10
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
May-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 ®
Bas
ed o
n da
ta
repo
rted
in th
e So
uthw
est M
LS.
Dat
a is
dee
med
relia
ble
but n
ot g
uara
ntee
d.
2009
(DET
)20
09(D
ET)
2008
Perc
ent
Cha
nge
(ATT
)20
09(A
TT)
2008
Perc
ent
Cha
nge
(DET
+ATT
) 20
09 Y
ear-
to-
Date
(DET
+ATT
) 20
08 Y
ear-
to-
Date
Perc
ent
Cha
nge
New
Lis
tings
Apr
1,46
11,
805
-19.
06%
145
188
-22.
87%
6,29
07,
790
-19.
26%
May
1,47
21,
956
-24.
74%
163
206
-20.
87%
7,92
59,
952
-20.
37%
Jun
1,87
8--
168
--11
,998
--
Pend
ing
Sale
sA
pr83
686
2-3
.02%
8598
-13.
27%
2,94
73,
719
-20.
76%
May
856
869
-1.5
0%73
92-2
0.65
%3,
876
4,68
0-1
7.18
%
Jun
857
--89
--5,
626
--
Clos
ed S
ales
Apr
542
641
-15.
44%
5267
-22.
39%
1,83
72,
463
-25.
42%
May
566
674
-16.
02%
5172
-29.
17%
2,45
43,
209
-23.
53%
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
$125
.0$1
66.7
-25.
01%
$8.7
$12.
9-3
2.56
%$5
13.7
$727
.6-2
9.40
%
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
$184
,750
$205
,000
-9.8
8%$1
56,5
90$1
63,5
00-4
.23%
----
--
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
$222
,070
$247
,295
-10.
20%
$170
,333
$180
,035
-5.3
9%--
----
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
ay5,
422
6,24
1-1
3.12
%66
063
24.
43%
----
--
Jun
6,42
8--
646
----
----
Ave
rage
Day
s on
Mar
ket
Apr
8566
28.7
9%10
575
40.0
0%--
----
May
7865
20.0
0%99
6747
.76%
----
--
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 ®
Bas
ed o
n da
ta
repo
rted
in th
e So
uthw
est M
LS.
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
257
309
-16.
83%
May
958
1,31
5-2
7.15
%Ju
n37
1Ju
n1,
264
Pend
ing
Sale
sA
pr14
615
3-4
.58%
Pend
ing
Sale
sA
pr59
059
5-0
.84%
May
165
130
26.9
2%M
ay60
764
5-5
.89%
Jun
122
Jun
625
Clo
sed
Sale
sA
pr89
890.
00%
Clo
sed
Sale
sA
pr37
446
7-1
9.91
%
May
8911
2-2
0.54
%M
ay41
347
8-1
3.60
%Ju
n98
Jun
548
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%
May
$165
,000
$195
,750
-15.
71%
May
$189
,000
$201
,000
-5.9
7%Ju
n$1
87,0
00Ju
n$2
07,0
00
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%
May
$185
,442
$219
,209
-15.
40%
May
$227
,437
$244
,330
-6.9
1%Ju
n$1
99,9
78Ju
n$2
49,1
98
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
%
May
927
1,11
3-1
6.71
%M
ay3,
224
3,76
6-1
4.39
%Ju
n1,
160
Jun
3,88
6
Ave
rage
Day
s on
Mar
ket
Apr
103
7145
.07%
Ave
rage
Day
s on
Mar
ket
Apr
7060
16.6
7%
May
8774
17.5
7%M
ay71
6116
.39%
Jun
75Ju
n63