Wednesday, May 15, 2013

Home Sales Continue Up, Prices Drop

The number of sales of single family detached homes around metro Albuquerque continued to increase during April. So did the number of pending sales, suggesting further growth in completed sales. The Greater Albuquerque Association of Realtors released the numbers Monday.
April saw the sale of 729 homes closed. That was up 57, or 8%, from March and 127 more than March 2012, a 20.7% increase.
Pending sales, 1,280 during April, increased 172, or 16%, from March. From a year ago, the increase was 244 units, or 24%.
Prices went the other way.
Both average and median prices dropped from March 2012 and March 2013.
For April the average sales price was $197,908. The drop was $4,697 from March and $13,278 from a year ago. The average price did stay in that $200,000 range where it has been for several months.
The median price, $168,000 in April, declined $6,775 from March 2012 and $7,000 from March 2013. The decline took the median price back to close to the February level of $168,500.
The homes for which the sale closed during April were on the market an average of 70 days, the briefest sales period of 2013. The sales period was 83 days during April 2012.

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