Today, the Greater Albuquerque Association of Realtors released their home sales report for June 2012. The stats were good, if not spectacular.
Albuquerque Metro Home Sales
Home sales were up in June across the metro area, with positive news for both median and average sales prices and for home inventory numbers as well. Here’s a breakdown of the metro area stats:
- Year to date home sales were up 4%
- Median sales price was up 4%
- Average sales price was flat
- Home inventory was down 18%
Albuquerque versus Rio Rancho Real Estate Stats for June
The Rio Rancho real estate market performed better than the Albuquerque real estate market. Here are the details comparing the Albuquerque and Rio Rancho stats.
- The median sales price was up 2% in Albuquerque and 6% in Rio Rancho
- The average sales price was down 3% in Albuquerque and up 7% in Rio Rancho
- Home inventory was down 20% in Albuquerque and down 26% in Rio Rancho
What Direction is the Real Estate Market Headed?
I pull my own real estate stats almost every day for my Albuquerque real estate stats blog. Right now I’m seeing slight improvements in the average sales prices in almost all areas of the city as well as a reduced number of houses for sale. In fact, we’ve had mostly positive real estate news for about 6 months now going back to October of 2011.
The direction of the market seems pretty clear then, and feels very positive if not spectacular. However, from where I sit, having survived the worst real estate market in a long time, I’ll take slow and steady growth over time if it means we can avoid the subsequent precipitous drop in the market as a result of out of control growth.
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These Albuquerque real estate statistics were provided by the Greater Albuquerque Association of REALTORS®data on 07/11/2012. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included. To view GAAR’s report click here.