Highest Closed Sales Since 2nd Quarter 2010

Published on Jul 23, 2012

Albuquerque, NM, July 23, 2012 – 2^nd Quarter closed sales for single family, detached homes rose 8.2 % from 2^nd Quarter 2011 in the greater Albuquerque metro market. The 2,071 homes sold reflect the highest number of closed sales since the second quarter of 2010 which reflected the new home buyer credit. 

Home prices also saw improvements in the average sales price for single family detached homes from the same period with an increase of 4.8% over 2^nd Quarter 2011.  The average sales price for the 2^nd Quarter of 2012 is $209,780 up from $160,000 in the 1^st Quarter of 2012 and $200,300 in the 2^nd Quarter of 2011.  Median prices also improved.

“The 2^nd quarter ended with low inventory and low interest rates.  Both are factors in consumers buying homes,” said Marc Guggino, President of the Greater Albuquerque Association of REALTORS®. “All of the major market areas in the metro market showed positive increases over 2011,” said Guggino.

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.