January Pending sales rise 15.9% Year over Year
Albuquerque, NM, January 28, 2013 – Pending home sales for single-family detached homes got a strong boost in January with a 15.91 % increase from January of the previous year and a 34.58% increase from the previous month. Single-family detached home sales rose 16.79% when compared to January 2012. January 2013 is the highest January sales month for the greater Albuquerque market since 2008.
The median sale price of single-family detached homes selling in January was $158,000, a reduction of 4.24% from the previous year. The average sales price was $186,051 with 67% of single-family detached homes sold selling for less than $200,000.
“With days on market to sell a home decreasing and favorable mortgage conditions, January offered homebuyer’s several incentives to jump into the market,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®. “We are pleased to see the housing market continue its recovery,” she added.
To see the full report for January 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 3000 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.