Home prices continue to rise in March
Albuquerque, NM, April 10, 2013 – Sales of single family detached homes in the greater Albuquerque market increased 12.75% from the same period last year. March marks the fifteen month where the current month’s sales exceeded the same month the prior year. Pending sales of single-family detached homes rose 8.52% from the previous year and increased 21.36% from February 2013.
Average sales prices for single family detached home have increased over the past two months. March’s average sales price of $202,605 reflects an increase of 6.82% over the prior year. The median sales price of $175,000 rose 10.06% from March 2012.
“Sales are increasing steadily,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®, “which are good signs for the housing market.” “The fact that we have seen some movement in price indicators is also a good sign that the market place is reacting to low interest rates and affordable prices,” she added.
To see the full report for March 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.