Real Estate Market

Featured Listing

Featured Listing

For Sale: $375,000

More Information

Monthly Newsletter from Sandi Pressley

U.S. Real Estate Overview

Note: November 2018 data below are the most recent released by the National Association of Realtors.

Existing-home sales increased in November, according to the National Association of Realtors®, marking two consecutive months of increases. Three of four major U.S. regions saw gains in sales activity last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) increased 1.9 percent from October to a seasonally adjusted rate of 5.32 million in November. Sales are now down 7.0 percent from a year ago (5.72 million in November 2017).

NAR's chief economist, Lawrence Yun says two consecutive months of increases is a welcomed sign for the market. “The market conditions in November were mixed, with good signs of stabilizing home sales compared to recent months, though down significantly from one year ago. Rising inventory is clearly taming home price appreciation.”

The median existing-home price for all housing types in November was $257,700, up 4.2 percent from November 2017 ($247,200). November’s price increase marks the 81st straight month of year-over-year gains.

Total housing inventory at the end of November decreased to 1.74 million, down from 1.85 million existing homes available for sale in October. This represents an increase from 1.67 million a year ago, however. Unsold inventory is at a 3.9-month supply at the current sales pace, down from 4.3 last month and up from 3.5 months a year ago.

Properties typically stayed on the market for 42 days in November, up from 36 days in October and 40 days a year ago. Forty-three percent of homes sold in November were on the market for less than a month.

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 4.87 percent in November from 4.83 percent in October. The average commitment rate for all of 2017 was 3.99 percent.

First-time buyers were responsible for 33 percent of sales in November, up from last month and a year ago (31 percent and 29 percent, respectively).

Prepare Your Home For Sale on the Inside

When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:

  • Bring in the light. The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical sun tubes.
  • Create Space. Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.
  • Replace Flooring. Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!

These simple tips can help you sell your home and take advantage of our today's market. Please contact us if you have any questions about selling your home. We are here to help!

Stay Warm in Albuquerque at these Top Coffee & Tea Houses

With that cool nip in the air, we all need something warm and revitalizing to start the day - or keep it going for that matter. And what better place to find the perfect cup of java or tea than in Albuquerque’s fine coffee houses? Here’s a list of some of the best coffee and tea houses in Albuquerque to warm up your day.

Pinon Coffee House

Pinon features coffee roasted locally by New Mexico Piñon Coffee. You can also enjoy pastries and breakfast burritos made in house, with new pastries flavors created every week.

Prismatic Coffee

If a great cup of espresso is all you need, then Prismatic is the place. They don’t feature food items, except for an outstanding stroopwafel made in house. Otherwise, you’ll just find superb coffee and a relaxing atmosphere to work or relax.

Satellite Coffee

As co-founder Jean Bernstein says “Coffeehouses are where we fuel up, exchange ideas, people watch, and hopefully get a little warmth. With coffee, all things are possible.” At Satellite Coffee you’ll find regular patrons hanging out, enjoying the outstanding coffee choices and relaxing vibe.

Humble Coffee Company

Humble Coffee is a craft coffee shop that specializes in single-origin espresso and brews. Located in the Nob Hill/University and Downtown neighborhoods of Albuquerque, you’ll also find a tasty supply of locally made breakfast burritos and pastries.

Quick links to this site are also SandiSells.net or SandiSellsHomes.com