Wednesday, September 14, 2016

Metro Real Estate Market Flat in August

After dropping in July to 990, pending sales of single family detached homes in metro Albuquerque rebounded to 1,148 in August, the highest pending performance of 2016. The Greater Albuquerque Association of Realtors released the August sales report on Monday afternoon. Until July, pending sales had been above 1,000 since February.
Those 1,148 pending sales showed a 24% improvement from August 2015.
Outside the pending category, the metro Albuquerque was quiet during August as compared to July.
Closed sales of detached homes “jumped” two units from July to 1,071 in August. That performance, the second highest of the year following June, did show a nine percent increase from August 2015.
The median sales price was $190,000 during August. The average price was $226,422. Both were a 1.6% increase from August 2015 and a slight increase from July.
Detached metro homes were on the market an average of 51 days until selling, a five day shorter sales period than during August 2015. The sales period average 48 days during July and 47 for June.
There were 1,541 detached homes newly listed on the market during August, the second lowest new listing month of 2016 after short February.

No comments: