Average Home Prices Up in January
Albuquerque, NM, February 10, 2014 – Single-family detached home sales closed in January rose 12.29% over January 2013. Closed sales were the strongest January since 2007 when 662 closed sales were reported.
The average sales price of single-family detached homes increased to $203,687 which was a 9.48% increase over January 2013. The median sales price of single family detached homes rose 6.27% from the same period the prior year to $167,900.
“While approximately 60% of sales were between $100,000 and $249,000, there were 137 sales of homes $250,000 or higher which is very good news,” said John Kynor, President of the Greater Albuquerque Association of REALTORS®. “Additionally, sales of homes $250,000 and over increased by 40% over January 2013,” he said.
To see the full report for January 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 3,000 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.