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March Sales Strongest of 2011

Albuquerque, NM, April 11, 2011 –There were 570 home sales during the month of March, a 39-percent improvement when compared to February,according to the Greater Albuquerque Association of REALTORS®.  There were 64 fewer homes sold when compared to March 2010.

“March was the single strongest month for home sales since June of 2010,” said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®.  “There were also 903 pending sales in March. This was the strongest month for pending sales since April 2010, which was the final month to qualify for the federal home buyer tax incentive.”

 The top selling price range during March was between $120,000 and $139,000. “We’re seeing a lot of activity in Rio Rancho, where closed sales are up 101-percent from February 2011,” Parnegg said. 

 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. 

Market Report

March 2011 Market Report