Feb Homes Sales, Prices Up

February sales of single family detached homes improved 62 units, or 13%, over January. The 542 sales represented 7.1% growth from February 2012. That month had 29 days as 2012 was a leap year.
The Greater Albuquerque Association of Realtors released the February sales report yesterday afternoon.
Average and median prices bounced mostly back from the January slump over the December. The February average, $203,514 remained below November and December, but was above October and within the $200,000 to $205,000 range of average prices between August and November 2012. The average price was up 4.3% from the February 2012 average of $195,165.
The February average price got help from the high end with 21 sales of homes priced at $500,000 and above including at $1 million or more. January had 11 such sales.
At $168,500, the February median price increased from January by $10,500 or 7%. The February median beat October and November, was below December and increased 4.3% from February 2012.
Sales pending during February, 542, were 62 units or 13% below January. However, figuring sales on a per day average to allow for the fewer days in February shows February sales at 32.6/day, 1.3 units more than the 31.3 sales/day during January.
Single family detached homes took an average of 76 days to sell during February. That was 11 days or 12.6% faster than February 2012, but slower than the last three months of 2011.
Condominium and townhouse sales, 54 during February, beat both January and February 2012.