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Number Of Homes Sold Up More Than 15% In 2015

FOR IMMEDIATE RELEASE

Contact:                   
Jon Schnoor, President,
505-385-2154, president@gaar.com

Janice McCrary, Executive Vice President,
505-724-3481, jmccrary@gaar.com

 

Number of homes sold up more than 15% in 2015

Albuquerque, NM (January 25, 2016) – The 2015 annual statistics show Albuquerque metro area’s housing market closed the year with a 15.55 percent jump in the number of detached homes sold compared to 2014. The 10,928 detached and attached homes sold in 2015 was the highest annual level since 2006.

The $215,331 average sale price for 2015 represents a 1.10 percent over 2014 for detached home sales. Since the 2011 low of $201,176, the average detached home sales price has has grown each year consecutively, representing an overall improvement of 7.04 percent.

In 2015, a majority of homes were sold within the first sixty days, with 45 percent selling within the first thirty. Sixteen percent of detached home sales were of units on the market six months or longer. The 3,407 homes currently for sale is an 8 ½ year low for the Greater Albuquerque housing market.

“The Albuquerque metro area’s housing market was very active in 2015,” said Jon Schnoor, 2016 President of the Greater Albuquerque Association of Realtors. He added, “With the number of homes sold reaching levels not seen since 2006, the housing market looks promising going into 2016.” 

To see the full report for 2015 Annual market statistics, go to GAAR.com and click on Market Statistics.

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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.

For media assistance, please contact Eva Medcroft at 505-724-3461 or eva@gaar.com.