Home sales and prices improve in 4th Quarter
Albuquerque, NM, January 23, 2013 – Home sales for single-family detached homes in the greater Albuquerque metropolitan area increased 16.29 % in the fourth quarter of 2012 from the fourth quarter of 2011. Sales of attached, condos and townhomes also improved, with a 23.91% increase from fourth quarter of 2011.
Average sales prices of single-family detached homes ended the year at $206,514 which was a 4.45% increase from the fourth quarter of 2011. Median sales prices also increased 2.98% over the fourth quarter of 2011 and ended the year at $167,500. Days on market went from 85 in the fourth quarter of 2011 to 68 days in the fourth quarter of 2012, a 20% decrease.
“The increases in year over year 4th Quarter sales for both detached and attached homes reinforce the steady, positive trend in our real estate market,” said Julie Greenwood, 2013 GAAR President, “Consumers continue to demonstrate their willingness to take advantage of the favorable conditions that exist for them,” continued Greenwood. To see the full report for the 4th Quarter statistics go to GAAR.com and click on Market Statistics..
To see the full report for the 4th Quarter 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.