NM firms sell $5.6 billion in homes in 2017 – Albuquerque Business First

In 2017, the average price of a single-family detached home was $235,206, according to the Greater Albuquerque Association of REALTORS. But some of the residential real estate firms on this year’s List, went above and beyond that with the homes they sold.

The most expensive home sold by a firm on The List was sold for $5.16 million. Sotheby’s International Realty Santa Fe sold a home in Tesuque, just north of Santa Fe and sitting adjacent to the Santa Fe National Forest. View the accompanying slideshow to tour some of the most expensive homes sold by firms on the List.

In total, firms on The List sold $5.6 billion in 2017, through over 23,000 close transactions. There are 2,516 licensed brokers at the firms on The List.

Largest New Mexico Residential Real Estate Firms

Ranked by NM 2017 gross sales

Rank Business name NM 2017 gross sales 1 Keller Williams Realty $1.59 billion 2 Coldwell Banker Legacy $1.14 billion 3 Sotheby’s International Realty Santa Fe $774.85 million View This List

While there was plenty of buying activity around the state, brokers noticed more activity in certain areas. Albuquerque saw a lot of activity on the Westside and in the Northeast Heights, as well as in nearby Rio Rancho. Around the state, brokers noticed activity in Los Lunas, most likely because of Facebook, as well as in Northeast Las Cruces.

Santa Fe was not the only place that saw large home sales. Firms sold their most expensive homes in Corrales and the Albuquerque area as well.

The Albuquerque metro area saw improvement in homes sold and in home pricing compared to 2016. Single-family detached home sales rose 6.9 percent to 11,477 units.

“The Albuquerque metro area’s housing market was very active in 2017,” wrote Danny Vigil, 2018 president of the Greater Albuquerque Association of REALTORS, in a statement. “Since more homes sold at a higher price point, our local housing market grew to $292 billion in 2017. That’s up by more than 12 percent from 2016.”

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