Of the detached homes sold, 241 were in Albuquerque, 1 in Corrales, 57 in Rio Rancho, 4 in Bernalillo, 4 in Placitas, 19 in the East Mountains/Estancia area and 23 in Valencia County. Sales increase in Albuquerque, Rio Rancho, Bernalillo, Placitas and the East Mountains, held steady in Valencia County, and decreased in Corrales (January 2009 -3; January 2010-1).
Both average and median home sale prices declined from January 2009 to January 2010. In January 2010 the average sale price for detached homes was $205,624 and the median $172,240. In January 2009 the average sale price was $214,872 and the median $175,000. For attached homes the average sale price in January 2010 was $141,351 and the median $144,000. In 2009 the average attached home sale price was $180,159 and the median, $158,500
New listings entering the market in January numbered 1617. This was 3.30% less than in January 2009 when 1,658 listings entered the market. In January 2010, the Greater Albuquerque area had 4,766 detached and 566 attached homes listed for sale, 10.23% fewer than there were in January 2009 (5,309 detached and 616 attached).
The number of days on the market for detached and attached homes declined 3.5%.
The stars seem to be in alignment for market recovery. Days on the market continue to decline. The inventory is growing smaller, sales keep increasing as do pendings (properties awaiting closing) and price correction continues.
1 comment:
Don't forget that this increase in sales in January might have had to do with the new Pending short sale status that was implemented, moving quite a few homes into a pending status that might not otherwise have been.
Post a Comment