Here is a Sneak Peek at the ABQ Real Estate Stats for May 2013. It was a good month for home sales in Albuquerque and Rio Rancho, with mixed results in the other areas of the Albuquerque metro area.
These are preliminary stats for the sales that have been reported so far. The official home sales report from the Greater Albuquerque Association of Realtors will not available until June 10th or so.
ABQ Metro Real Estate Stats by Area
Homes Sales in Albuquerque
It was another good month for home sales in Albuquerque. 706 closed sales have been reported so far, up from 630 closed sales last year. That’s a 12% increase in closed sales (updated 06/05/13 at 8:05am).
However, total home sales are not the only measure of an improving market. REO sales were down 23% and Short Sales were down about 20% this May over last May. That’s a positive sign, as clearing out the distressed inventory is crucial to a significant real estate recovery.
Attached home sales were down 9%. Couple that with the fact the there were considerably less distressed property sales and you’ll see that the sale of fair market, single family homes was up even more. That’s a positive sign for the Albuquerque real estate market.
House Sales in Rio Rancho
Home sales in Rio Rancho, which have been lagging behind Albuquerque until recently, were very strong again last month, up 33% this May over last May. REO or bank owned home sales more than doubled increasing from 23 last May to 54 this May. That’s a whopping 154% increase! Short sales were down 59%.
Sales in the Outlying Areas
Closed sales held steady in the East Mountains and Los Lunas. Sales were up in Corrales by 50% while sales in Placitas closings were down.
Thanks for reading my Albuquerque real estate market sneak peak for this month. Check back, I will be updating the numbers as they roll in.
These Albuquerque real estate statistics were provided by the Greater Albuquerque Association of REALTORS®data on 06/05/2013. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.
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by Rich Cederberg, Albuquerque Real Estate Agent, (505) 803-5012.