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

July 2011 Albuquerque Sales

Albuquerque saw July 2011 detached home sales increase by over 12% from the previous year. A total of 625 detached homes sales were successfully closed in July 2011, compared to 557 one year ago. July 2011 also saw the median sale price for detached single-family homes increase to $178,000, the highest level since December 2010. The numbers seem to indicate a stabilized housing market in the greater Albuquerque area, which is welcomed news to current homeowners.