Here is a summary of Placitas NM real estate activity for August 2010.
Total Sales: 5
High Sale: $470,000
Low Sale: $250,000
Average Sales Price: $369,400
Median Sales Price: $390,000
Average Days on the Market: 344 days
There are only a small handful of distressed properties for sale in Placitas. Out of the 109 available homes only 2 are bank owned homes and only 8 are short sales. That means that, like Corrales, less than 10% of the available homes are distressed properties. Compare that with areas in Albuquerque that have 30% distressed properties and you will appreciate that both Placitas and Corrales have been relatively unaffected by foreclosure activity.
With 5 homes closing last month and 109 homes available there is a 22 month inventory of homes on the market in Placitas.
Please check back next month for a summary of Placitas NM real estate activity in September.