Sales of residential homes have been sluggish all year long in Belen, Los Lunas, Bosque Farms, Peralta and the remainder of Valencia County. We are finally seeing bigger numbers compared to 2008 here at the end of the year. According to SWMLS data, October of 2009 had 51 homes sold with the Median home price at $134,000.00 compared to the same month in 2008 at 30 homes sold with the Median home price holding at the same number. Encouraging, however, when you compare to 2007 there were 62 homes sold and in 2006 there were 96 homes sold in the month of October, the drastic drop in sales in the County becomes evident.
Needless to say it is a buyers market, even in Valencia County New Mexico. The conditions of the market it make it an unprecedented time to buy. Especially if you are trying to buy a home priced over $200,000.00. The abundance of inventory and the amount of REO (bank owned properties) and short sale opportunities make it an ideal time to "trade up" to a larger or more expensive home.
Of course you will need an experienced Real Estate Professional to assist in your endeavour. Check us out at www.alonzobaldonado.remax.com.
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