Archive for the 'Ruidoso Market Trends' Category
Buyers Market in Alto ? - Current inventory of homes, lots
August 15th, 2008 categories: Alto New Mexico Property, Ruidoso Market Trends
Looking at the current listings for Alto Lakes Golf & Country Club, there is still ample inventory of available site built homes, and lots for sale. There are currently 82 homes, (with Full Golf Membership ) for sale in Alto Lakes Golf and Country Club, with prices ranging from a low of $219,999 to a high of $1,695,000 and the median price is $407,250. The median home size is 2256 sq. ft. The median sq. ft price is $180.50.
Alto Social Membership homes - show 23 current listings, ranging from $225,000 to 785,000 and a median of $359,000. Median home size is 2119 sq. ft. Median sq. ft price is $169.40.
Town homes and Condos in Alto - currently there are 9 properties listed, from a low price of $219,000 to a high price of $589,500 and a median price of $399,900. All but one of these properties have a Full Golf Membership.
Subdivision lots - Full Golf Memberships in Alto Village are currently at 66 listings available, from a low price of $34,500 to a high of $250,000. the median price lot in Alto is $57,000. Median number of days on market is 260. Social Membership lots number 42, and range for a low price of $15,500 to a high of $550,000, and a median price of $30,700. Median number of days on market is 144.
July sales 2008 vs. 2007: In July 2008, six homes were sold in Alto Lakes, with prices ranging from $200,000 to $460,000 and a median sales price of $441,250, and a median sq. ft price of $167.00, and median number of days on market was 192. Read the rest of this entry »
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Ruidoso Real Estate - Market Update June 08
June 18th, 2008 categories: Ruidoso Market Trends, Ruidoso real estate
So you may be asking…what IS the real estate market doing in Ruidoso New Mexico? If you watch the evening news it sounds like real estate around the country is cratering, but in reality, there are only a few states (California, Florida, Michigan and to some extent Arizona) that are really having issues with lower prices, high inventory and foreclosures. In most Midwestern and Western states prices and inventory are holding steady although not making great gains. Here is a recent assessment from the National Association of REALTORS
You can see in the tables below that for site-built, single family homes in the Village of Ruidoso, the numbers have not changed drastically from 2007. The number of units sold in March & April were actually up, but the number of sales in May were down a bit. Most people in the area will agree that there are not as many people visiting Ruidoso in May and June as there usually are, and most of us attribute this to $4/gallon gas, not a deficiency in our market. I am convinced however, that as temperatures in TX and AZ rise, that the cost of being miserable and paying to air condition a home in 100+ degree temperatures will lose out to cool mountain air and gas that costs more than we like to pay.
Ruidoso residential units sold - Mar 2008 - May 2008 ( site built homes only )
Ruidoso residential units sold - Mar 2007 - May 2007 ( site built homes only )
There are currently 329 single family home listed in the Village of Ruidoso. The average number of homes sold per month over the last year is 21.5. This gives us a current inventory of approximately 15.3 months if no other homes come on the market. Conditions are right if you are looking to buy in Ruidoso. Interest rates are still relatively low, and contrary to what you might hear on the news, people with good credit can still get loans for second homes and investment properties.
I hope this is helpful information, and if you would like an analysis of a specific town or neighborhood in Lincoln County, just let me know and I will be happy to provide it.
If you would like more specific information on Ruidoso Real Estate, please contact me at mary@ruidoso-homes.com.
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No Boom No Gloom - Ruidoso Real Estate Trends
April 4th, 2008 categories: Ruidoso Market Trends, Ruidoso real estate
Lately, there has been a lot of interest in the Ruidoso real estate market, from those who have been considering a home purchase for some time.
I’m often asked questions like “Is this a buyers market” and “Are we seeing a bottom” ?
I can’t forecast the future of real estate in Ruidoso especially with the uncertainty of the national markets for both housing and stocks. The historical sales trend and current seasonal slowdown for Ruidoso, along with the market forecasts from the National Association of Realtors, reflect a lull from the overheated markets of 2005 and 2006. A window of buying opportunity may be present now and for several months to come - depending on how you view the data.
Lets look at some historical trends for our area, along with some regional and national factors that influence real estate in Lincoln County. Read the rest of this entry »
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