August Home Prices See Boost
Albuquerque, NM, September 10, 2013 – Single-family detached home sales in August rose 17.2% from the previous year. The 857 sales of single-family detached represent the fourth highest sales month in 2013 and the highest August sales since 2006.
The median sales price of $182,500 reflected a 10.6 % increase from August 2012. The average sales price was $222,533 which was a 10.8% increase over the same month in 2012. The August average sales price was the highest for August since 2008.
“We have seen a more traditional market in the Albuquerque metro this year,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®, “where sales ramp up in the summer and start to decrease when school starts.” “The market this month reflects a higher number of homes selling over $200,000,” she continued, “which drives up the median and the average.”
To see the full report for August 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.