Over the past two months our market has seen an increase in the average sales price of single family detached homes. March saw an increase over the prior year of 6.82% to an average of $202,605. From March 2012 the median sales price of a single family detached home rose 10.06% to $175,000.
March was the fifteen straight month where sales surpassed the same month of the prior year, seeing an increase in sales of single family detached homes in the greater Albuquerque area of 12.75% from the year prior. Single family detached homes also saw an increase in pending sales, rising 8.52% from March 2012 and 21.36% from February 2013.
“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.
Read the full March 2013 Market Report here.
www.GregLobb.com
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