The greater Albuquerque real estate market continues to show signs of improvements on all fronts. Both the number of homes sold and sales prices rose as their time on the market dropped.

The 2nd quarter’s 2,774 detached homes sold showed a 17.9% improvement compared to only 2,353 sold in the same period last year. Condo and townhomes also showed a notable improvement with 24.2% more homes sold this quarter over that of 2014.

The median and average sale prices of detached homes each had a slight bump in the 2nd quarter 2015. Compared to 2014, the median sales price increased 3.95% to $184,000.  The average sale price improved 0.79% to $218,684.

Homes are also selling faster this quarter. On average, detached homes closed within 62 days this year compared to 66 days in 2014. The number of homes on the market remains relatively low, with 6.18% less homes than the same period last year.

“Activity has been strong in the 2nd quarter of 2015,” said Paul Wilson, 2015 President of the Greater Albuquerque Association of REALTORS®.  “We sold more houses this quarter than in any quarter since 2nd quarter of 2006. Home sales in the $250,000+ range also grew, ” he said. “This is great news to homeowners that have been waiting to sell their homes.”

To download the full quarterly report, click here to go to Market Statistics.