Albuquerque, NM, June 10, 2013 – According to the latest monthly statistics prepared by the Greater Albuquerque Association of REALTORS®, single-family detached sales increased 25.4 percent compared to June 2012. Inventory of single-family detached homes increased 7.10 percent over the same month the prior year and new listings entering the market were 17.02 percent over June 2012.
The median price of a single-family home held at $172,000, a 0.4 percent decrease from June 2012. The average sale price increased 2.3 percent from the previous year to $212,456.
“REALTORS® are reporting lots of activity,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®, “with many properties selling within a few days of going on the market.” “Buyers are watching interest rates rise which is motivating them to finally make a move,” she added. “Once again 76% of the sales occurring in the Albuquerque metro market are less than $250,000,” she said.
To see the full report for June 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