Less Homes Sold and more Inventory added in June
Albuquerque, NM (July 12, 2021) – According to the latest monthly statistics prepared by the Greater Albuquerque Association of REALTORS®, single‐family detached homes going under contract decreased 5.8 percent to 1,338 homes when compared to June 2020. Inventory of single‐family detached homes decreased 48.5 percent compared to June 2020 to 836 units, and 1,472 new listings were added to the market, representing a 1.7 percent increase compared to the same time last year.
The median price of a single‐family home was $305,000, a 25.8 percent increase from June 2020. The average sales price increased 22.0 percent from the previous year to
$341,350. Single‐family homes sold on average in 11 days, 63.3 percent faster when compared to June 2020. The average percent of list price received increased to 101.7 percent, a 2.8 increase over the same period last year.
The median sales price for condos/townhomes increased 27.7 percent to $214,479 when compared to June 2020, and the average sales price increased 25.3 percent to
$221,670. Pending sales decreased 3.4 percent to 142 units, while inventory decreased
60.8 percent to 62 homes for sale. Condos/townhomes sold on average in 12 days,
61.3 percent faster when compared to June 2020, and 136 new listings were added to
the market, a 6.2 decrease from June 2020.
Greater Albuquerque
Association of REALTORS® 1635 University Blvd. NE Albuquerque, NM 87102
“With less homes sold, and more homes added to the inventory this June, we see a trend of the market leveling off” said Belinda Franco, 2021 President of the Greater Albuquerque Association of REALTORS®. “However, median sales price continues to climb which shows there is still a lot of competition for homes on the market.”
To see the full report for June 2021 market statistics, go to gaar.com/market‐statistics.
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About GAAR
In 2021, the Greater Albuquerque Association of REALTORS® (GAAR) celebrates its 100 Year Anniversary. On July 11, 1921, the National Association of REALTORS® approved the Albuquerque Real Estate Board with a roster of just 20 members.
Throughout the years, the Association has undergone several name changes as its geographic boundaries have expanded to include areas in Bernalillo, Valencia, Sandoval, Santa Fe and Torrance County.
Today GAAR is the largest local professional trade association in Central New Mexico with over 4,300 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is the Voice for Real Estate for the Greater Albuquerque Area and the trusted source for accurate real estate market data and trends.
REALTOR® is a registered collective membership mark that may be used only by real estate professionals who are members of the NATIONAL ASSOCIATION OF REALTORS® and subscribe to its strict Code of Ethics.
For media assistance, please contact Laura Harris at 505-724-3461 or
laurah@gaar.com.