Monday, December 10, 2012

Year-Over-Year Home Sales Increase Continues

Sales of single family detached homes in metro Albuquerque during November brought to 17 months the string of year-over-year increases, according to figures released by the Greater Albuquerque Association of Realtors this afternoon.

November sales as compared to October reverted to the colder-weather seasonal sales decline pattern defied in October when sales were up from September. November sales—552 homes—dropped 121 units, or 18%, from October.

Homes sold during November were on the market an average of 66 days, the second shortest sales period of the year, tied with August and just behind the 65 day average sales period during July.

Median and average prices, which both dropped during October, split their behavior during November. November’s median price of $165,000, though up 3.1% from October 2011, dropped $1,700 or one percent from October 2012. The average price increased by $1,826, or one percent, during November to $204,653. The November average was up almost $10,000 from a year earlier. The sale of four homes at more than $1 million pushed the average price performance.

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