Despite cost, condo living on the rise in Albuquerque

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How much would you pay to live in the center of all the action?

Upscale condos are offering a different way of life for people in Albuquerque, and it’s a growing market.

It may be the most expensive condo in the metro – a penthouse at the newly rebuilt Carlisle Condominiums sold for $460,000. It’s a two bedroom, but it has its share of amenities.

“A lot of restaurants and things to do in the area,” said Nob Hill resident Mike Szabo. 

For some people it’s all about location – restaurants, shops and popular hangouts are drawing some to condos in areas like Nob Hill and downtown.

“We also have a lot of young professionals that work in the downtown area,” said Broker Kimberly Perry, who manages the Residences at Anasazi.

She says besides young professionals, people who do business in Albuquerque are opting for condos here as second homes. 

They are also attracting retirees looking to downsize. 

“You can shut the door and leave and don’t have to worry about a yard and the maintenance,” said Nob Hill resident Mike Szabo.

I think that they like the convenience to the airport, the downtown amenities, the city transit,” Perry said. 

She says nine units sold at Anasazi last year and there’s high demand. Units are going for between $116,000 and $260,000.

Over at the new Carlisle Condominiums, units have started in the $190,000 range but have sold for as high as $460,000.

“I think it’s too much,” Leroy Bustos said.

A spokesperson for ‘The Carlisle’ says the high end condos are raising the bar.  

Most current listings there are in the $350,000 range or about $315 per square foot. 

“You can go up to the Heights and get one for $460,000 better than these,” Bustos said. 

A quick search on real estate website Zillow shows $460,000 can get you a four bedroom, three bath home near Tramway. 

In Nob Hill, a nearly 2,700 square foot home with three bedrooms and four baths is going for about $450,000. 

Copyright 2020 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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