May Closed Sales Strong
Albuquerque, NM, June 10, 2013 – Pending sales and closed sales of single family detached homes for May 2013 increased 25.38% and 22.52% respectively compared to May 2012. May was the highest sales month since July 2007 with 903 closed sales of single family detached homes reported in May 2013.
The inventory of single family homes for sale increased 3.16% over the same month the prior year. The average sales price for single family detached homes was $211,505 and exceeded the average sales price the prior year by a scant .1%.
“The increase in number of pending and closed sales is an indicator that consumers are in the market place making offers and closing deals,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®. “Inventory is starting to tick upward as summer approaches which are, traditionally, the highest sales months in the Albuquerque metro,” she continued.
To see the full report for May 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