Nothing Much Happening in Albuquerque. September Home Sales Up By Nine.

It takes less than 30 days to sell a home or condo sell in Denver, reports the Wall Street Journal today. Now even mentioning the number slips into the Denver Envy mode that is so useless and popular in Albuquerque. My excuse is that the number is one of those interesting tidbits, however irrelevant.
Denver’s circumstances are different from Albuquerque. Denver is booming. In New Mexico, the bad news is that nothing much positive is happening. The good news is that nothing much bad is happening.
In Albuquerque it took an average of 43 days to sell the 997 single family homes that showed a closed sale during September, reports the Greater Albuquerque Association of Realtors in the September sales report released Wednesday. That was six days faster than during September 2016. A condominium or townhouse took 53 days to sell during September, a three-day increase from September 2016.
Closed sales dropped 95 units, or nine percent, from 1092 in August, a reflection of the seasonal slowing as we head into colder months. Sales were up nine units from 988 in September 2016. Sales peaked in March at 1,030.
It was the same pattern for September’s 985 pending sales, down 195 units, or 17%, from August, but up 128 units, a nice 14.9%, from a year ago.
Prices increased from September 2016. The September median price, $200,000, was up $4,000, or two percent, in a year, but down from $202,825 in August. The average price movement was a $7,070 increase, or 3.1% from September 2016 and a $2,036 decline from $237,532 in August.
Through the first nine months of 2017, the sale of 9,016 single family homes closed in metro Albuquerque, a 6.2% increase from 8,488 in 2016.