With a nod to Seals & Crofts memorable lyrics, it can truly be said that Bosque Farms real estate prices have truly kept going "Up, Always Up," even through the "doom and gloom" market of 2008!
Just take a look at the statistics:
These are the average sales prices for single-family, detached homes in the Bosque Farms/Peralta area of New Mexico for the past five years, based on data from the Greater Albuquerque Association of Realtors. One can see at a glance that greenbacks invested in the green valley area of Bosque Farms have been safely invested. Sales prices have gone up significantly every single year over the previous year, even during 2008, a year when the media outdid both Jeremiah and Chicken Little with their gloom & doom reports about real estate, even here in New Mexico! In fact, prices in Bosque Farms, NM, not only failed to go down, they went up 2.33%!
In truth, the market here in central New Mexico has stayed quite strong; granted it hasn't lived up to the expectations created by the "boom" years from 2005-2007, but those of us who have been in the business for a while (20 years+ in my case) realize that double-digit increases in home values can't happen every year, after all. In 2008, of the approximately 60 real estate areas in the "Greater Albuquerque Area," 17 actually showed appreciation in 2008 compared to 2007. The appreciation rates ranged from 0.15% to 57%! Another 13 areas showed very little slippage in the average sales prices, posting declines from the statistically negligible 0.01% in Northwest Edgewood, to a little over 4%, which was the average depreciation for our Greater Albuquerque area as a whole. Only a very few areas posted declines of 10% or more, and several of these were not statistically significant, as they were in areas where only a handfull of properties sell in any given year, so the absence of a single, high-end sale, or thee presence of a single very low distressed property severely skew the averages.
Bosque Farms, New Mexico, in the lush Rio Grande Valley of Valencia County, just south of Albuquerque, has so much going for it! Regular readers of this blog probably already have a good idea why Bosque Farms remains a great place to invest in real estate. Strong community values and activities, lush irrigated land, and a fully horse-friendly community are just a few of the reasons. Any of you who aren't already familiar with Bosque Farms may enjoy making a "virtual visit" to Bosque Farms, below. Or check out more details about Bosque Farms, NM here any time, for a full description of the Bosque Farms lifestyle! Interested in morre statistics? Click for full Bosque Farms Home Sales Statistics, too.
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