Home Prices increase 9%
Albuquerque, NM, May 12, 2014 – The Greater Albuquerque market experienced an 8.9% increase in the average sale price of single-family homes compared to April 2013. The average sales price for April 2014 was $215,560. The median sale price for April 2014 was $175,000, an increase of 4.2% from the same period last year.
New listings, active inventory, pending sales and closed sales all increased from March 2014. Closed sales of 721 single-family units were slightly down from the 729 sales in April 2013.
“Traditionally, as the months get hotter and summer gets closer, housing activity begins to increase,” said John Kynor, President of the Greater Albuquerque Association of REALTORS®. “We are already beginning to see the start to the busiest time of the year for home sales,” he said.
To see the full report for April market statistics, go to GAAR.com and click on Market Statistics. The Greater Albuquerque Association of REALTORS® is the largest local professional trade association in Central New Mexico with nearly 3,000 members pledged to a strict Code of Ethics and Standards of Practice. Established in 1921, GAAR is recognized as a leading provider of real estate information services, data and education in New Mexico.