Albuquerque, NM, January 21, 2014 – The number of single-family detached home sales in the 4th quarter of 2013 in the greater Albuquerque metro market increased 5.38% from the same period in 2012. Homes sales of attached condos and townhomes also improved with a 2.92% increase from 4th quarter 2012.
Selling prices for the 4th quarter also increased. The median sale price of a single-family home selling in 4th quarter of 2013 was $173,000, a 3.28% increase from 4th quarter 2012. The average sale price was $211,528, a 2.43% improvement over the same quarter in 2012.
Inventory levels remained healthy and new listings for the 4th quarter of 2013 were up 12.25% compared to 4th quarter 2012.
“An increase in new listings means there were more homes for buyers to choose from,” said John Kynor, 2014 GAAR President. “With interest rates slowly inching upward and a good selection of homes available, many home buyers are deciding now is the time to buy,” he added.
To see the full report for the 4th quarter statistics go to www.GAAR.com and click on the Market Statistics link.
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.