Presented by Albuquerque Real Estate Agent

Rich Cederberg

Albuquerque Real Estate StatsAugust 2013

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Active, Pending and Closed Sales August 2013In spite of rising interest rates, real estate sales were strong again last month. Closed sales were up a modest 4.4%, but pending sales were up 21.7%. Active listings were up 3.1%.It’s always exciting to see large increases in pending sales, but they don’t always correlate to closed sales the following month.

Average Price Per Square Foot August 2013The average price per square foot increased by 7.5% over August 2012 and 10.9% over August 2011. The number jumped up in June but has now held steady for three consecutive months.

Average Days on Market August 2013The average number of days it took homes to sell moved from 80 in August 2012 to 63 in August 2013. That’s a 21.2% decrease! Remember, however, that this calculates only for the sales that actually closed. Overpriced homes are still lingering on the market.

Average List Price vs. Sales Price August 2013The average list price increased only 1.1% while the average sold price increased 14.6%. Did overly conservative pricing by sellers hold prices down, or are sellers learning to price their homes to sell?

Months of Home Inventory August 2013The months of home inventory stat changed only slightly over one year, decreasing 1.2%. However, over two years it decreased by a whopping 34.1%.

Market Summary August 2013

All market indicators moved in the right direction last month, which is a very positive thing for a real estate market that’s trying to recover. I’ll be curious to see if next month’s number are affected by the increase in interest rates that occurred in July and continued into August .

Please check back soon for more information on the number of short sale and REO (foreclosed home) transactions.

To view more real estate stats visit my blog at AlbuquerqueRealEstateBuzz.com

Albuquerque Real Estate StatsAugust 2013

(505) 750-1846

These statistics were provided by the Greater Albuquerque Association of Realtors and the Southwest MLS on 09/18/2013.

to view Albuquerque Homes for Sale visitAlbuquerqueRealEstatePlace.com

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