Inventory levels stay strong in November
Albuquerque, NM, December 10, 2013 – Single-family, detached home sales in the Greater Albuquerque market saw a 2.5% improvement from November 2012. The median sale price of a single-family home in November was $170,000, a 3.0% increase from last year at this time.
New listings entering the market in November rose 19.37% from last year, helping to end the month with a boost in home inventory going into the winter months. Listing inventory finished the month at 4,255 homes on the market, a 9.0% increase from last November.
“With other parts of the country experiencing housing inventory shortages, it is encouraging that inventory levels in the Greater Albuquerque Market remain healthy,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®. “The months supply of inventory continues to hover around six months, which is considered a balanced housing market,” she said.
To see the full report for November market 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.