In June monthly sales of metro Albuquerque single family detached homes continued above the comparable month of 2014. The metro saw sales close on 924 homes during June, 23% over June 2014 and a nice 8% increase from May. The Greater Albuquerque Association of Realtors released the June sales report late Friday.
Pending sales, the harbinger of sales closing the next month, jumped 26.5% from June 2014. However, pending sales dropped 46 units from May. Pending in June 2014 were down 56 from May 2014.
The homes that closed during June spent relatively little time on the market, an average of 56 days. The inventory of homes available for sale has been below 2014 for all of 2015.
The median price for detached homes closed during June was $190,788, up 6% from May 2015 and from June 2014 and the highest since 2012.
The average price was $226,337, the highest since $230,750 in July 2014. The average
below the comparable month of 2014 during both April and May. However, for June the average price increased 6% from June 2014. June’s average was up 3.6% from May and 7% from April.
The increase in average price came without help from million dollar homes. None closed during June. There were 48 homes sold during June in the two prime groups from $500,000 to $999,000, nearly double the 25 homes in those two groups sold during 2014.
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