The official real estate stats for October 2011 have been published by the Greater Albuquerque Association of Realtors. I’ve put together this video that highlights the major points in the report. These stats are for the city of Albuquerque only and do not include Rio Rancho, Los Lunas or the East Mountain area.
There is mixed news in this month’s real estate report. The number of home sales was up; however home prices remained down. Here are some of the details contained in the report:
- Total sales of detached homes was up a whopping 27%
- The average sales price was down 14% year-to-year
- The median sales price was down 8% year-to-year
- The average market time stayed the same as last year
- Pending sales were up 22%
- Home inventory was down 21%