2012 Closed Sales up 13.24% from 2011
Albuquerque, NM, January 28, 2013 – Sales of single-family detached homes in the greater Albuquerque market rose 13.24 percent from the previous year to 7,672 homes. Sales for each month of 2012 exceeded the same month in 2011. Sales of single-family attached homes which are condos and townhouses ended the year 19.57% over 2011.
Home sales prices of single-family detached homes also saw improvements with the median sale price of $169,000 rising 1.20 percent from the previous year. The year ended with an average sales price of single-family detached homes of $204,513 increasing 1.66 percent from 2011.
“These year-end numbers reflect what we are seeing nationwide”, said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®. “Consumers are back in the market place sensing that the market has hit bottom both in price and interest rates,” Greenwood continued. “Pent up demand is finally working in the market place as consumers get used to the new “normal”,” she said.
To see the full report for the 2012 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.