Albuquerque Home Sales Statistic
Albuquerque Home Sales activity in the Albuquerque market saw Pending home sales exceed 1,000 for the second consecutive month, according to the Greater Albuquerque Association of REALTORS® (GAAR) with data from the Southwest Multiple Listing Service, Inc. (SWMLS). The 1,142 detached homes going under contract in February 2018 was a 22.4% increase over the same period last year and is the highest February month for Pending sales since 2006.
Pending sales of condos/townhomes for February 2018 shows a 25.6% increase over the same month last year. Once again, inventory of homes for sale in Albuquerque is down. Compared to February 2017, detached single family inventory shows an 18.2% drop to only 2,613 active listings, while attached homes were reduced 29.6%.
Both the average and median detached home prices increased in February. Compared to the same period in 2017, the median sales price increased 4.1% to $194,500 and the average sales price increased 0.8% to $225,342. While sales of homes in the $200,000 to $249,999 remain strong, February marked a notable increase in homes sold in both the $140,000 to $149,999 range and the $160,000 to $179,999 range.
The ratio of Sales Price compared to Final Listing Price for detached homes increased 0.2% to 97.6% for the month of February. Condo/Townhome sales showed an increase of 0.3% to 97.3% for the same time period.