August 2011 Albuquerque Housing Market Statistics
Albuquerque Housing Market Statistics is a summary of the Greater Albuquerque Association of Realtors monthly report. August Albuquerque housing market statistics data compared on a year over year basis brings some good news for a change for the Albuquerque housing market and the Rio Rancho housing market. My charts at the bottom of this Albuquerque housing market statistics report have key data in red and green, Green is good for the market, Red is bad. August’s year over year comparison for the Albuquerque housing market continues to show average and median prices are falling. We had seen three consecutive month over month increases in the average home price. This trend reversed this month and average home prices fell compared to last moth. The Albuquerque housing market and Rio Rancho housing market also show positive signs as the number of active homes on the market have decreased year over year for several months this year. Home prices most likely will continue to fall due to the high number of distressed properties for sale, high unemployment, and tighter lending standards.
Albuquerque Housing Market Statistics Homes Sold
The total number of single family detached Albuquerque homes sold in August 2011 increased by 23.25% compared to August 2010. Actual number of single family detached Albuquerque homes sold in August 2011 is 440 compared to 357 in August 2010.
Albuquerque Housing Market Statistics Median Price
The median price for single family detached Albuquerque homes in August 2011 decreased by 11.46% compared to August 2010. Actual median price for single family detached Albuquerque homes sold in August 2011 is $163,808compared to $185,000 in August 2010.
Albuquerque Housing Market Statistics Average Price
The average price for single family detached Albuquerque homes in August 2011 decreased by 12.68% from August 2010. Actual average price for single family detached Albuquerque homes sold in August 2011 is $193,315 compared to $227,110 in August 2010.
Albuquerque Housing Market Statistics Active Listings
The total number of active listings for single family detached Albuquerque homes in August 2011 decreased by 14.27% compared to August 2010. Total active detached single family Albuquerque homes listed in August 2011 is 3,047 compared to 3,554 in August 2010.
Albuquerque Real Estate Market Statistics Days on Market
The average days on market for single family detached Albuquerque homes in August 2011 increased by 7.58% from August 2010. Actual average days on market for single family detached Albuquerque homes listed in August 2011 is 71 days compared to 66 days in August 2010.
| Area Name |
MLS Area |
August 2011 |
August 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
440 |
357 |
23.25% |
| Rio Rancho |
140 – 162 |
113 |
98 |
14.14% |
Albuquerque Housing Market Statistics Median Price
| Area Name |
MLS Area |
August 2011 |
August 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$163,808 |
$185,000 |
(11.46%) |
| Rio Rancho |
140 – 162 |
$160,000 |
$170,000 |
(5.88%) |
Albuquerque Housing Market Statistics Average Price
| Area Name |
MLS Area |
August 2011 |
August 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$198,315 |
$227,110 |
(12.68%) |
| Rio Rancho |
140 – 162 |
$178,467 |
$189,253 |
(5.7%) |
Albuquerque Housing Market Statistics Days on Market
| Area Name |
MLS Area |
August 2011 |
August 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
71 |
66 |
7.58% |
| Rio Rancho |
140 – 162 |
97 |
70 |
9.88% |
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