March numbers are out, inventory still remains higher in 2008 than in 2007 and homes are taking longer to sell.  The average days on market dropped from 71 days in February to 69 days in March which is a good sign.  Prices are still holding strong as we've only seen 2-3% decrease in average sales price based on January - March 2008 vs January - March 2007.  Attached sales have seen an increase in average sales price over 2007.

The average sales price in March 2008 $236,394 vs February 2007 $239,311. 

The positive news for Albuquerque is that we are not seeing huge declines like many hard hit areas across the nation.  Be careful of national media statistics, they do not paint a true picture of what is selling in your city.  If you would like to see specific sales data for your neighborhood, visit our MLS Market Snapshot to your right and receive free monthly emails with specific information on sales in your neighborhood.