Thursday, December 10, 2015

Home Sales Continue Ahead of 2014

The metro Albuquerque real estate performance for both single family houses and townhouses/condominiums continued in November to run nicely ahead of the month a year ago, according to the November sales report released today by the Greater Albuquerque Association of Realtors.
Closed sales for single family homes were 652 in November, 8.5% ahead of November 2014. Seasonality stepped into the November sales picture with a 183 unit, or 22%, drop from October. Sales during November 2014 were 21% below October 2014.
November showed 794 pending sales, 56 homes or 7.6% ahead of a year ago. Pending sales dropped 17% from October.
Homes sold during November were on the market an average of 62 days. May was the last month when the days-on-market period was last over 60 days.
The median single family detached home price was $180,000 during November. That was down $5,000 from October, but remained ahead of October 2014 by $5,000. The average price, $213,686, was down one percent or about $2,200 from November 2014 and also down from October by about $2,600. The average price is down around $13,000 since hitting $226,337 in June, the high for the year.
No $1 million-plus homes closed sale during November.

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