Albuquerque Foreclosure Report for August 2011. See an updated list ofÂ AlbuquerqueÂ Foreclosure Homes.
August Home Sales
This month 29% of Albuquerque home sales were either foreclosures or short sales, with foreclosure sales outweighing short sales 2 to 1.Â The graph below illustrates the ratio of short sales and foreclosure sales to regular sales.
Foreclosure Prices vs. Short SaleÂ Prices
Hoping to get a great deal on anÂ Albuquerque House? Consider buying a foreclosure home, in most cases they are better deals than short sales.
Regular sales went for $113 per square foot, short sale homes went for $86 per square foot and foreclosure houses went for $68 per square foot during August.
Foreclosure Sales byÂ MLS Map Area
The majority of foreclosure sales were on the west side. Areas 92 (Southwest Heights), 111 (Ladera Heights) and 120 (Ventana Ranch) area. Hereâ€™s a breakdown of AugustForeclosure sales:
Foreclosures on the increase?
Here is a 13 month graph of foreclosures for sale vs. foreclosures sold. Sales have been fairly steady but inventory has been decreasing.
Foreclosures continue to influence the Albuquerque real estate market, especially on the west side. There have been fewer foreclosures hitting the market, but the number is expected to increase before they go away.
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These statistics were compiled from Greater Albuquerque Association of REALTORSÂ®data on 09/11/2011.http://www.albuquerquerealestatebuzz.com/market-reports/albuquerque-foreclosure-report-for-august-2011/
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