October sales up 7.4% over last year
Albuquerque, NM, November 11, 2013 – Closed sales of single-family detached homes in the Greater Albuquerque market saw a 7.4% increase over October 2012. The average sale price of detached single-family homes in October was $208,152, an increase of 2.6% from the previous year. Strong listing activity continued in October with a 6.0% increase in new listings and listing inventory up 8.7% compared to October 2012.
“While October traditionally begins the slower part of the year for the Greater Albuquerque real estate market, sales and listing activity were positive for the month,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®. “Year to date, sales in the Greater Albuquerque area have outpaced last year by 19 percent, and October was a good start to what looks to be a strong finishing quarter,” she added.
To see the full report for October 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.