Albuquerque Home Sales
Home sales in Albuquerque continue to be strong! The dark green bars below show the number of closed sales over the last year. The numbers marked by triangles are the pending sales, the homes that have gone under contract but not yet closed, and the light green bars are the active listing or homes for sale.
It's important to note that while sales in June were down from May, sales were up from one year ago. Real estate runs in cycles. Sales start slowly every year, pick up during the warmer winter months, then decrease at the end of the year. May is very frequently one of the peak months for sales.
Average Sales Price
The average sales price increased sharply last month, up 4.3% from the previous month, and up 8.5% from the same month last year.
The market is hot. Home sales are strong, prices have moved up the last two months, home inventory is down, so all indicators are that the market should continue it's recovery. However, right now the concern is interest rates. Rates have gone up nearly a point over the last month, and it's hard to predict what they will do over the next month.
Increased rates mean that homebuyers who were preapproved to buy up to a certain amount of home are seeing their purchasing power melt away. If rates go up much more we may see an impact on the number of sales and home prices.
Please check back in the next day or so for Rio Rancho market stats.
by Albuquerque real estate agent Rich Cederberg, (505) 803-5012.
These Albuquerque real estate statistics were provided by the Greater Albuquerque Association of REALTORS®data on 07/09/2013. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.