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Closed Sales Improve in January

Albuquerque, NM, February 23, 2011 –Sales of existing homes in the greater Albuquerque metropolitan area improved from January 2010 according to sales figures collected by the Greater Albuquerque Association of REALTORS®. There were 363 detached home sales in January 2011, a four-percent improvement from one year ago. “Albuquerque, Corrales, Rio Rancho and Bernalillo experienced an increase in homes sold from last January,” said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®.

“There were 693 pending sales in January.  Even though this number is down six-percent when compared to January 2010, it’s the strongest month for pending sales since August 2010,” Parnegg said.

There were $78.3 million dollars in total sales volume during January, a one-percent increase from January 2010.  The average sales price of $201,239 a drop of two-percent from last year and the median sales price of $172,000 dropped by less than one-percent when compared to January 2010.

The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 2900 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.