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$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
Base(brochure)
PriceJun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Month
ALBUQUERQUE 2005/2006 "Average" &"Median" New Home Base Price Comparisons
(12 month perspective - Single Family Homes)
Average
Median
A “Watershed” event!
“The impact of fees”
$205,319$205,319
$240,090$234,620
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
Base(brochure)
PriceJun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Month
ALBUQUERQUE 2005/2006 "Average" &"Median" New Home Base Price Comparisons
(12 month perspective - Single Family Homes)
Average
Median
$205,319$205,319
$165,740$165,740
$240,090
$200,990$200,990
$234,620
“Average” & “Median” percentage increase for Albuquerque (1-year comparison)
* NEW HOME BROCHURE BASE ASKING PRICE (Single Family Homes)
June 2005 average = $205,319
May 2006 average = $234,620
June 2005 median = $171,950
May 2006 median = $200,990
14.3% increase
16.9% increase
$160,000
$180,000
$200,000
$220,000
$240,000
$260,000
$280,000
Base(brochure)
PriceJun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Month
ALBUQUERQUE / RIO RANCHO 2005/2006 "Average" New Home Base Price Comparisons
(12 month perspective - Single Family Homes)
ABQ
RR$205,319$205,319
$199,256$199,256
$271,719$271,719
$234,620
$140,000
$160,000
$180,000
$200,000
$220,000
$240,000
Base(brochure)
PriceJun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May
Month
ALBUQUERQUE / RIO RANCHO 2005/2006 "Median" New Home Base Price Comparisons
(12 month perspective)
ABQ
RR$182,500$182,500
$242,484$242,484
$165,740$165,740
$200,990
Current “Average” & “Median” percentage differences between
Albuquerque and Rio Rancho (as of May 2006)
* NEW HOME BROCHURE BASE ASKING PRICE (Single Family Homes)
Current ABQ average = $234,620
Current RR average = $271,719
Current ABQ median = $200,990
Current RR median = $242,484
+15.8% difference
+20.6% difference
METAMORPHOSISDUKE CITY’S
GROWTH WILL BE ACCELERATED BY
FOUR KEY TRENDS.
FOUR KEY TRENDS1. CALIFORNIA BUYERS2. DEMOGRAPHICS –
FOUR BYTES3. E* VILLAGE --DEMOGRAPHICS
4. THE MAGIC MILLION MARK.
ENTERTAINMENT• Retail is entertainment.
• Technology is entertainment.
• Dining is entertainment.
• Urban Villages need to be built around entertainment venues.
ENTERTAINMENT• It used to be the home entertainment center that
was important.
• Now the home must be in the center of entertainment.
DEMOGRAPHICS
•Every 7 seconds Every 7 seconds another Baby another Baby
Boomer turns 50.Boomer turns 50.
DEMOGRAPHICS• OVER 50 …OVER 50 …
• DUAL INCOMESDUAL INCOMES• RISING HOME PRICESRISING HOME PRICES• RECORD LEVELS OF RECORD LEVELS OF
INHERITANCE.INHERITANCE.
EQUALLY IMPORTANT
• TIME IS THE MOST PRECIOUS TIME IS THE MOST PRECIOUS COMMODITY FOR THESE PEOPLE.COMMODITY FOR THESE PEOPLE.
• LOCK ‘N LEAVELOCK ‘N LEAVE
• SECOND HOMESECOND HOME
• DO IT FOR ME andDO IT FOR ME and
• WALK TO ENTERTAINMENTWALK TO ENTERTAINMENT
THE MAGIC MILLION MARK
• WHEN THE AFFORDABILITY
CRUNCH REALLY HITS, THAT’S THE FIRST STEP
TO CONDO-CONVERSIONS.