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Albuquerque Real Estate

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Albuquerque is a fun and convenient place to live in New Mexico. The areas here are a bit older, but renovating these older homes is becoming a popular trend. Albuquerque has several parks, walking and hiking trails, locally owned restaurants and shops and the major airport of the state. The University of Mexico is located in Albuquerque which adds to the atmosphere and diversity of the town. The wonderful weather and cost of living are attractive to people relocating from more expensive urban areas.

o Market Conditions: Albuquerque is growing at a rapid pace with most of the expansion heading westward. The growth has led to record-breaking home sales and an increase of average sales prices from $150,000 in 2000 to over $200,000 in 2005. The real estate brokers do not predict a slowdown in real estate sales and expansion for at least five years.

o Neighborhoods: Albuquerque can be divided into four regions: Northeast, Southeast, Northwest and Southwest. The North and South are divided by what was once Route 66, and the East and West regions are divided by Broadway.

The Northeast section of the city includes the University of New Mexico and the foothills of the Sandia Mountains. Because of these landmarks, the area’s growth is limited. Some of Albuquerque’s most upscale and affluent neighborhoods are located in the Northeast quadrant, however the area has homes in every size and price range.

The Albuquerque International Airport, Kirtland Air Force Base and Sandia National Laboratories are located in the Southeast section of the city. Well-established neighborhoods are prevalent here as well as a few contemporary areas. This area also has homes in every price range.

The city seems to be ever-expanding to the west, which gives the Northwest quadrant newer homes and neighborhoods in conjunction with some of the city’s most established and oldest neighborhoods. You can find large secluded properties in the rural areas of this region or more densely populated areas growing atop West Mesa, where the affordable housing starts as low as $70,000.

The Southwest section contains a lot of agricultural areas, but as you head toward downtown you’ll find one of the most highly sought after neighborhoods in the Old Country Club area. The homes in the southwest area have various architectural styles, including many southwest style homes.

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