During September homes both sold more quickly and for more money, according to the September sales report released today by the Greater Albuquerque Association of Realtors.
The number of homes offered for sale continued to drop, going from 4,553 in September 2015 and 3,982 in August 2016 to 3,902 for September 2016.
September sales of single family detached homes in metro Albuquerque showed a 10% decline from August, dropping from 1,071 in August to 969 in September. Average daily sales were 34.5 homes in August and 32.3 in September, a 2.2 unit, or six percent, drop per day. The daily sales comparison accounts for September having one less day than August.
Closed sales continued the 2016 year over year increase from 2015 with a 42-unit, or 4.5% increase from September 2015.
Detached homes were on the market an average of 49 days during September, two days less than August and ten days, or 17%, less than the 59-day average sales period from September 2015.
The median sales price, $195,000 during September, increased $16,000 or 8.4% from September 2015. That increase probably is explained by the September 2015 median sales prices, $179,000, showing an unusual drop. The $195,000 median sales price was $5,000 or three percent, more than August.
The average sales price was $227,898 during September. That was up $1,400 from August and $6,000 or 2.7% more than September 2015.
There were 73 “attached homes” (townhouses or condominiums) sold during September, down 24% from September 2015. However, pending sales increased 14 units to 103 during September 2016 from 89 in September 2015.
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