October looks to have been a good, if not outstanding month for home sales in the ABQ Metro area.
These are preliminary stats based on the MLS sales that have been reported so far. Percentages noted below are comparisons of sales in October 2013 over October 2012.
Check back over the next several days for updates (updated 11/11/2013 at 7:39pm)
ABQ Metro Home Sales Stats by City
Homes Sales in Albuquerque
It was a solid month for home sales in Albuquerque. 540 closed sales have been reported so far, up from 514 closed sales last year. That’s a 5% increase.
In Oct 2012 30% of sales were distressed properties, meaning short sales and foreclosures (REO’s). That number declined to 20% in October 2013. Foreclosures were down about 4%; short sales were down about 6%.
Sales of condos and townhomes were up 6%.
House Sales in Rio Rancho
Home sales in Rio Rancho were strong once again, up approximately 25% year over year. Distressed properties made up a surprising 40% of all home sales. 32% of the sales were REO’s or foreclosures, up from 21% last year, and 9% were short sales, down from 12% last year.
Sales in the Outlying Areas
Closed sales increased in the east mountains and Corrales, while sales declined in Los Lunas and Placitas.
Thanks for reading my Albuquerque real estate market sneak peak for this month. Remember to 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 11/03/2013. This data is reflective of homes which were listed on the Albuquerque MLS; private sales are not included.
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