HOMES ARE SELLING A LOT LIKE HOT CAKES IN ALBUQUERQUE. THE GREATER ALBUQUERQUE ASSOCIATION OF REALTORS SAYS AUGUST WAS THE 3RD HIGHEST SALES MONTH THIS YEAR … AND THE 7TH CONSECUTIVE MONTH OF MORE THAN A THOUSAND PENDING SALES.
PRICES ALSO OUTPACED PREVIOUS YEARS WITH THE HIGHEST MEDIAN PRICES SINCE 2008. ASSOCIATION PRESIDENT DON MARTINDELL ATTRIBUTES THAT TO “PENT UP DEMAND,” DESPITE THE STATE BEING SLIGHTLY DISADVANTAGED COMPARED TO OTHER STATES.
THE MEDIAN PRICE FOR DETACHED HOMES ROSE TO 202-THOUSAND-825 DOLLARS … A 6-POINT-7 PERCENT BOOST OVER LAST YEAR. THE AVERAGE PRICE FOR A HOME WAS ALSO UP BY 5 PERCENT. AND HOMES WERE ON THE MARKET FOR A SHORTER TIME IN AUGUST … AN AVERAGE OF 44 DAYS. NEW LISTINGS ALSO INCREASED BY 4-POINT-7 PERCENT.
