August 2011 Albuquerque Sales

The August 2011 detached home sales report is out, and here is a quick breakdown.  Albuquerque saw detached home sales for August 2011 increase 3.36% from July, and 26.42% from August 2010!  The sales volume increase is welcomed as it helped to decrease inventory in the Greater Albuquerque metropolitan area.  A total of 646 detached home sales were recorded during August 2011 making it the highest August sales month since 2007.  The downside to the report indicates the median sales price is $163,808, which represents a 10.24% decrease when compared to August 2010 and an 8.67% decrease from July 2011.  The complete August 2011 sales reports can be viewed online by visiting: http://www.gaar.com/market_statistics/report/august_2011_market_report