Home Prices Improve in July
Albuquerque, NM, August 12, 2013 – The month of July saw upward movement in the median sales price of single-family detached homes. July’s median price for single-family detached homes was $182,000 a 4% increase over July of 2012 and a 5.8% increase over the previous month. The July average sales price also increased 5.61% year over year to $222,505.
With 939 reported single-family detached home sales for July 2013 was the highest sales month since July 2007. The 939 sales are a 30.6% improvement over July 2012.
"The most sales occurred in the price range of $200,000 to $249,000," said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®, "which has typically been the top selling price range for the past three years." "What’s exciting is that sales of properties from $250,000 up to $749,000 showed a 45% improvement over the past year which affects the median and average prices," she continued." "These are great signs of improvement in the Albuquerque Metro housing market," said Greenwood.
To see the full report for July 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.