Friday, February 12, 2016

Abq January Home Sales Down 26%

After inexplicably jumping 26% between November and December, closed sales of metro Albuquerque single family detached homes more than gave away the December gains with a 26%, or 213 unit, drop in January.
The 594 closed sales during January were 10.6% more than December 2014 closed sales of 656 homes.
The suggestion of improved sales during February comes from the 34% increase to 912 homes of pending sales during January. That’s a 233 unit or 34% increase.
It took an average of 64 days for a home to sale during January, fairly quick, but still the longest sales period since April 2015.
The median price for home with sales closed during January was $175,000, up 3.2% from January 2015, but down $500 from December. The $175,000 median price was the lowest since $175,000 in March 2015.
January’s average price was $217,247, up 4%, or $9,018, from December and up 6.8% from January 2015. Three homes sold in the million dollar plus price range helped that average as did eight in the $750,000 to $999,000 range where four homes sold a year ago.

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