Home sales and prices improve in 1st Quarter 2015
Albuquerque, NM (April 20, 2015) – First quarter home sales of single-family detached homes in the Greater Albuquerque real estate market increased 8.29 % from the first quarter 2014. For 2015, first quarter sales were 1,959 compared to 1,809 closed sales for the same period in 2014.
The median sales price of a single-family detached home was $171,500 at the end of the first quarter of 2015, which was 1.8% increase from 2014. The average sale price for the quarter was $204,581, which was a 1.7 % increase from the same period the prior year. Homes are also selling faster. The average time it takes to sell a home in the first quarter decreased from 78 days last year to 76 days this year.
“We have seen increased activity in the Albuquerque metro in the first quarter,” said Paul Wilson, 2015 President of the Greater Albuquerque Association of REALTORS®. “This quarter of 2015 is the strongest first quarter since 2007, and is a great way to start the busy summer season,” he said.
To see the full report for the first quarter of 2015 go to GAAR.com and click on Market Statistics.
About GAAR
The Greater Albuquerque Association of REALTORS® (GAAR) is the largest local professional trade association in Central New Mexico with over 3000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is the Voice of Real Estate for the Greater Albuquerque Area and the trusted source for accurate real estate market data and trends.
REALTOR® is a registered collective membership mark that may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics.