2012 Ends with Strong Existing-Home Sales in December
Albuquerque, NM, January 10, 2013 – Closed sales of single family detached homes for the month of December increased 16.06% over December 2011 and 9.96% over November 2012. Closed sales for December were 607. Each month in 2012 showed increases over the same month the previous year and marked the 18th consecutive month with year over year increases in closed sales of single family detached homes.
Home sales prices also saw improvements with the median sale price of $169,500 rising 5.94% from the previous year and the average sale price of $211,191 increasing 7.83% from December 2012. Inventory at December 31 is at the lowest amount of homes since June 2006 at 3, 587 homes.
“The number of single family detached houses sold in 2012 is the highest since 2008 in the greater Albuquerque area,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®. “A strong December finish continues the momentum we have seen for the past 18 months as consumers take advantage of prices and interest rates,” continued Greenwood.
To see the full report for December market statistics go to GAAR.com and click on Market Statistics.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.