Sales dropped 11 units during June from May for single family detached homes in metro Albuquerque. That’s 0.92%. The performance was down 58 units, or 4.7%, from June 2017.
The Greater Albuquerque Association of Realtors released the June sales report yesterday.
Pending sales in one month offer a rough indication of closed sales the following month. June’s pending sales of 1,279 homes was 94 fewer that the 1,373 sales pending during May. However the June pending performance was up 154 from June 2017, a healthy 13,7% increase.
Homes continue to sell quickly. Homes sold during June was on the market just 40 days, on average, the same as May and a week less than during June 2017. This average sales period is the shortest of the past year.
Month-over-month, the median price has increased since January when it was $189,000. The June median price was $212,500. The median was $199,950 for June 2017, and, for May 2018, it was $209,000.
With the exception of a blip during May 2018, the average price also has increased in since January. The average price was $238,458 in May, $244,365 during June, and $242,360 for June 2017.
The inventory of homes offered for sale has been increasing each month since February. The inventory was 3,297 for June, down 15.4% from 3,899 June 2017.
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