The Greater Albuquerque Association of Realtors released the home sales numbers for May 2012. The real estate numbers were outstanding.
Albuquerque Metro Home Sales
The May real estate statistics for the Albuquerque metro area were outstanding. Not only were home sales up, but so were the median and average sales prices. Here are the details:
- Year to date home sales were up 17%
- Median sales price was up 6%
- Average sales price was up 7%
- Home inventory was down 21%
Albuquerque versus Rio Rancho Real Estate Stats for May
Both Albuquerque and Rio Rancho fared well with positive numbers for median sales price, average sales price and home inventory. The number of home sales in Rio Rancho was flat, however. Here are the details comparing the Albuquerque and Rio Rancho stats.
- Albuquerque house sales were up 21%; Rio Rancho house sales were down 4%
- Median sales prices were up 2% in Albuquerque and 11% in Rio Rancho
- Average sales prices were up 2% in Albuquerque and 9% in Rio Rancho
- Home inventory was down 25% in Albuquerque; 27% in Rio Rancho
Is the Real Estate Recovery Here?
It’s hard to ignore the positive signs we’ve had the last two months in both Albuquerque and Rio Rancho. Buyers and sellers market have already started to behave differently.
Home inventory levels remain low. Decreased inventory with increased market activity will inevitably lead to increased home sales prices. Once we see this for several quarters, then we’ll know it’s here.
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These Albuquerque real estate statistics were provided by the Greater Albuquerque Association of REALTORS®data on 06/14/2012. 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.