April Home Sales In Albuquerque Are Highest Since 2007

Single family detached home sales for the month or April improved 20.7% over the year prior leading to the highest April sales since 2007!  Last month also saw the most homes put into pending since May 2006 rising 23.6% from April 2012.

April brought a %14.38% increase from the year prior in new listings entering the market, leading to the highest such number since June of 2010.  All this positive movement will bring an obvious downside with it in the form of more competition on the market, driving prices down 6.3% from April 2012. 

“The April sales numbers are a good start to the summer months which have traditionally been the highest sales months of the year,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®.  “Affordability has never been better, with nearly 80% of homes selling for $249,000 and under” she added.

Click here for the full report

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Albuquerque Realizes Highest 1st Quarter Sales Since 2008

Sales of single family detached homes increased 12.65% from the first quarter of the year prior, according to the latest quarterly numbers published by the Greater Albuquerque Association of Realtors.  This led to a first quearter of closed sales totaling 1,736, the most since 2008.  In addition, the median price of a single family detached home (the price that exactly half the sales were more than and half were less than) increased to $168,000, an improvement of 5%, from the first quarter of 2012.

“The real estate market recovery is slow and steady,” said Julie Greenwood, President of the Greater Albuquerque Association of REALTORS®.   “Interest rates are still low and affordability has never been better.  Some renters can purchase their own home for close to the same or lower than their rent payment,” said Greenwood.

Do you think your home has held its value over the past five years?

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Albuquerque Housing Market Report - March 2013

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