I did an analysis of Albuquerque home sales from November 15, 2009 to present today. This will give you an idea of what the activity was for sales based on VACANT homes vs. OCCUPIED properties.
Vacant homes are either new builder inventory (not frequently put into MLS), homes where the owner has moved to another area or another home, foreclosures, and vacant investment property no longer occupied by a tenant.
Of course we have to look at these statistics based on broker data entry (whether the broker said it was occupied but was really vacant), etc.
These statistics show that for OCCUPIED PROPERTIES, from November 15th to present (January 4, 2010) there were 151 properties put into PENDING status.
For VACANT PROPERTIES, there were 181 properties put into PENDING status.
What is interesting is that the 'price point' or average price for the sales were higher for OCCUPIED properties, less for VACANT homes listed for sale. The average DAYS ON MARKET was also found to be slightly higher for VACANT properties.
This goes along with the idea that homes that are staged, lived in, and have a good 'feel' when shown are more likely to sell than vacant properties, even when considering buyers that need to have a home ready to move into.
In our market area, escrow periods (the time it takes to close on a transaction) on anything but SHORT SALES averages approximately 30-40 days. Most sellers in our area are prepared to move out and have the house ready for closing within that time frame.
If you are ready to buy your Albuquerque home, keep these time lines in mind.
REPORT FOR VACANT PROPERTIES
REPORT FOR OCCUPIED PROPERTIES
I did an analysis of Albuquerque home sales from November 15, 2009 to present today. This will give you an idea of what the activity was for sales based on VACANT homes vs. OCCUPIED properties.
Vacant homes are either new builder inventory (not frequently put into MLS), homes where the owner has moved to another area or another home, foreclosures, and vacant investment property no longer occupied by a tenant.
Of course we have to look at these statistics based on broker data entry (whether the broker said it was occupied but was really vacant), etc.
These statistics show that for OCCUPIED PROPERTIES, from November 15th to present (January 4, 2010) there were 151 properties put into PENDING status.
For VACANT PROPERTIES, there were 181 properties put into PENDING status.
What is interesting is that the 'price point' or average price for the sales were higher for OCCUPIED properties, less for VACANT homes listed for sale. The average DAYS ON MARKET was also found to be slightly higher for VACANT properties.
This goes along with the idea that homes that are staged, lived in, and have a good 'feel' when shown are more likely to sell than vacant properties, even when considering buyers that need to have a home ready to move into.
In our market area, escrow periods (the time it takes to close on a transaction) on anything but SHORT SALES averages approximately 30-40 days. Most sellers in our area are prepared to move out and have the house ready for closing within that time frame.
If you are ready to buy your Albuquerque home, keep these time lines in mind.
REPORT FOR VACANT PROPERTIES
REPORT FOR OCCUPIED PROPERTIES
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