Abq Homes Sales Up 17 During February.

Pending sales provided the only news for February sales of single family detached homes in metro Albuquerque. February saw 921 homes move into the pending sales category, a 66 unit, or 8% increase from January. The performance beat February 2014 by 128 units or 16%.
The only other February happening was the sale of homes closing at a 2.5 home/day faster pace than during January. February sales averaged 19.8 homes/day as compared to January’s 17.3 homes/day. This daily activity meant that 554 homes closed during February, which was three days shorter than January, beat January by 17 homes or 3%.
The February 2015 homes closed performance of 554 homes edged January by four homes or 0.73%.
The Greater Albuquerque Association of Realtors released the February sales report today.
No only did more homes sell each day during February, they sold faster. Homes sold during January were on the market an average of 81 days. During February, homes took an average of 71 days to sell.
Nothing much happened to home prices during February.
The little that happened to prices during February happened to average prices which dropped 2.1% from January to $199,196. This was up $713 from February 2014. Median prices were $195,000, the same and February 2014 and down $500 from January 2015.
During January there were 855 sales pending. Almost two-thirds (65%) turned into closed sales during February. Some months show up to 89% of pending sales turning into closed sales.