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Aaron Burnett's Blog

By Aaron Burnett | Agent in Albuquerque, NM

January Pending sales rise 15.9% Year over Year

Albuquerque, NM, January 28, 2013 – Pending home sales for single-family detached homes got a strong boost in January with a 15.91 % increase from January of the previous year and a 34.58% increase from the previous month.   Single-family detached home sales rose 16.79% when compared to January 2012.  January 2013 is the highest January sales month for the greater Albuquerque market since 2008.

The median sale price of single-family detached homes selling in January was $158,000, a reduction of 4.24% from the previous year.  The average sales price was $186,051 with 67% of single-family detached homes sold selling for less than $200,000.

“With days on market to sell a home decreasing and favorable mortgage conditions, January offered homebuyer’s several incentives to jump into the market,” said Julie Greenwood, 2013 President of the Greater Albuquerque Association of REALTORS®.  “We are pleased to see the housing market continue its recovery,” she added.

To see the full report for January market statistics go to GAAR.com and click on Market Statistics.

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