During April both closed and pending sales of metro Albuquerque single family detached homes nudged up from March. The Greater Albuquerque Association of Realtors released the March sales report yesterday afternoon.
April’s 721 closed sales were 26 units, or 3.7%, above March. Pending sales also increased 26 units to 976, but the percentage gains with 2.7%.
Closed sales were eight units behind March 2013. While both pending and closed sales have increased each month of 2014, the pending sales continue to run well behind the 2013 performance. The pending sales percentage deficiency was 23.7% from March 2013, the largest percentage lag of the year.
Homes sold during April at an average rate of 2.367 per day, a smidge faster than the 2.387 average of March. The average home with a sale closed during April was on the market 71 days, one day more than April 2013.
Prices made sellers, at least those selling higher priced homes, happier during April. The average selling price was $215,560, up 6.4% from March and an 8.9% increase from April 2013. The increase came from sales in the five price groups starting at $250,000 being up from 2013.
April’s median price, $175,000, showed a $7,000, of 4.2%, hike from April 2013 and a $5,000, or 2.9%, increase from March.
Of the 950 homes with a sale pending during March, 76% moved to a closed sale for April.
For attached homes (townhouses and condominiums) pending sales activity mirrors that of detached homes in being well down from 2013. The percentage drop is greater, though. Closed sales of attached homes increased, on a year-over-year basis for the first three months of 2014, but the 52 attached homes sold during April were 28% behind April 2013.
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