In May, the pattern for single family detached home sales in metro Albuquerque got a little disrupted. The number of closed sales—981 during April— dropped slightly—all of 30 units, or 3%—from 1,011 during March. The Greater Albuquerque Association of Realtors released the April sales report today.
April’s sales were 76% of the 1,299 homes with a sale pending during March, a low percentage. April’s closed sales performance was eight ahead of the 973 homes sold during April 2016. That’s a 0.8% increase.
The rest of the pattern stayed in place—fewer homes offered for sale, homes selling faster, prices increasing and more sales pending.
The median sales price was $194,500 during April, a $9,500, or 5.1%, increase from April 2016. The median sales price for March was $187,500. April’s average sales price was $235,875, up 8.8% from April 2016. The March average price was $222,759.
Pending sales were 1,331 during April, 1,299 during March and 1,080 during April 2016.
Homes sold during April took an average of 51 days to sell. The average sales period was 54 days during March and 59 days during April 2016.
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