Wednesday, August 10, 2016

Metro Abq Home Sales Down in July

Sales of single family detached homes in metro Albuquerque dropped 1.5% or 16 units from July, according to the monthly sales report released today by the greater Albuquerque Association of Realtors ( The 1,058 closed sales were two ahead of July 2015.
The pending sales are moving to closed sales. In July, 90% of the 1,173 sales pending during June were closed. It was 89% of May pending sales closing in June.
The sold homes were on the market an average of 48 days during July, three more days than during June. This 48-day figure was 12 days, or 20%, faster than the 60 average sales period during July 2015.
Sellers are pretty much getting the price they ask. The selling price was 97.9% of the list price during July. That was a slight increase, one-half of one percent, from July.
Though median and average prices increased from July 2015, the prices dropped from June.
The median detached home price was $189,900, + 3.2% from $184,000 in July 2015 and down 4.6% from $199,000 in June
The average price was $226,192, a 6.8% increase from $2211,769 in July 2015 and down 4% from $235,110 in June.
For attached homes—condos and townhouses—down was the direction for closed sales and prices, both median and average.

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