2014 Average Sales Price up 1.19%
Albuquerque, NM, January 26, 2015 – Sales of single-family detached homes in the Greater Albuquerque market ended the year at 8,645, a 2.47% reduction from 2013 sales. There were 805 sales of condos and townhomes which reflected a reduction in the number of sales of 8.21% from 2013. The combined total sales of detached and attached single family homes were 9,450, making it the second consecutive year with sales exceeding 9,000.
The average sale price of single-family detached homes was $212,990. This was an increase of 1.19% over 2013. The median sale price, the amount at which half of the homes sold for more and half sold for less, increased 0.38% to $175,564.
“We ended the year with total sales slightly lower than 2013 which reflects the cautiousness we are seeing in consumers,” said Paul Wilson, 2015 President of the Greater Albuquerque Association of REALTORS®. “If you couple low interest rates and affordability, there has never been a better time to buy,” he continued.
To see the full report for the 2014 Annual statistics go to GAAR.com and click on Market Statistics.
The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.