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Average Sales Price Improves in 2010

Albuquerque, NM, February 4, 2011 –According to the Greater Albuquerque Association of REALTORS®, 2010 ended with a .62 percent increaseof the average sales price for detached homes from 2009. “This is the first increase in the average sales price since 2007,” said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®.The greater Albuquerque metro had 16 MLS areas where the average sales price improved from 2009.

For attached and detached homes, there were 7,484 sales in 2010, down 5.66 percent from 2009. “One interesting fact is that 36 percent of homes sold in 2010, sold within the first 30 days of being listed,” Parnegg said.

 In the city of Albuquerque, 18 of the 28 MLS areas had a year-over-year increase in home sales. Corrales, Placitas, and several MLS areas in the city of Rio Rancho also had pockets where home sales improved from 2009.

The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3,300 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.