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 (gaar.com). 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.