Prices, Sales Increase In City Neighborhoods

We compared single family home sales by neighborhood for 2008 and 2009 for 39 individual areas. Two areas, Valencia County and the East Mountains, we combine results for 25 areas.

Average home prices increased in five metro neighborhoods during 2009.  Those areas are Sandia Heights, Four Hills Village, Rio Rancho Mid-North, Rio Rancho Mid-West, and Rio Rancho North.  Total sales grew in 13 neighborhoods last year. These communities are spread over the Albuquerque metro area and represent the spectrum of prices and life style opportunities offered here.

The Rio Rancho Mid-North area was a leading performer with a 49% increase in the number of homes sold over 2008 and a 1.8% improvement in average price to $254,143. The nearby Rio Rancho North neighborhood showed a 1.7% sales price increase to $215,743, a figure very close to the city-wide average of $214,662.

At the opposite corner of the city, prices increased 2.6% in the far southeast Four Hills Village community. The Sandia Heights area in the far northeast, which has Albuquerque’s fourth highest average price, bucked the trend of lower price and fewer sales common to more expensive homes. 

Posted by Brenda Jenkins @ 11:38 AM on 02/23/2010