Albuquerque, NM, July 10, 2012 – Detached pending home sales in the Greater Albuquerque real estate market exceeded 1,000 for the 3rd time this year with an increase of 12% from the previous year, according to the Greater Albuquerque Association of REALTORS®. Closed sales for detached single-family homes also fared better than the previous year by 4.10%.
June was the 3rd month in a row with year-over-year increases in the average and median sale prices. The median sale price for June 2012 was $172,700 and the average was $207,679.
"It’s exciting to see this many pending sales", said Marc Guggino, 2012 GAAR President, "and with improved sale prices this may turn out to be a really great year for real estate."
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.