October Home Sales Outpace Previous Year and Month
Albuquerque, NM, October 10, 2011 – Sales for detached homes in October this year were 24.12% higher than sales in October 2010 and 9.48% higher than September 2011. The top selling price range in October 2011 was in the $120,000 to $139,000 price range.
“A 9% increase in closed sales from September, 2011 is interesting,” said Peter Parnegg, President of the Greater Albuquerque Association of REALTORS®, “considering that traditionally the Albuquerque market sees a downward trend in numbers of homes sold from September to December of each year.” “While inventory continues to go down, homes going under contract remain steady,” continued Parnegg, “showing that buyers are still in the market and we are regaining stability.”
Market statistics are available to the public at www.gaar.com.
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.