Albuquerque Housing Market Statistics July 2011
Here is a summary of the Albuquerque Housing Market Statistics from the Greater Albuquerque Association of Realtors monthly report. July Albuquerque housing market statistics data compared on a year over year basis brings us 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. July’s year over year comparison for the Albuquerque housing market continues to show average and median prices are falling. However, this is the third month in a row that the average home price has increased. The Rio Rancho housing market reversed course,the average and median prices increased year over year. 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. Rio Rancho average home prices increased in July compared to June, this is the second straight month of increased prices. Don’t get too excited and think the housing market has turned around, we are seeing good signs but need continued improvement over a several month time frame to declare housing is rebounding. We still face many head winds such as shadow inventory, high unemployment, tight lending standards by banks, and the high number of distressed properties for sale. This housing market will continue it’s downward trend until these factors improve.
Albuquerque Housing Market Statistics Homes Sold
The total number of single family detached Albuquerque homes sold in July 2011 increased by 9.751% compared to July 2010. Actual number of single family detached Albuquerque homes sold in July 2011 is 439 compared to 400 in July 2010.
Albuquerque Housing Market Statistics Median Price
The median price for single family detached Albuquerque homes in July 2011 decreased by 6.05% compared to July 2010. Actual median price for single family detached Albuquerque homes sold in July 2011 is $178,500 compared to $190,000 in July 2010.
Albuquerque Housing Market Statistics Average Price
The average price for single family detached Albuquerque homes in July 2011 decreased by 10.15% from July 2010. Actual average price for single family detached Albuquerque homes sold in July 2011 is $212,420 compared to $236,419 in July 2010.
Albuquerque Housing Market Statistics Active Listings
The total number of active listings for single family detached Albuquerque homes in July 2011 decreased by 11.99% compared to July 2010. Total active detached single family Albuquerque homes listed in July 2011 is 3,111 compared to 3,535 in July 2010.
Days on Market
The average days on market for single family detached Albuquerque homes in July 2011 increased by 5.8% from July 2010. Actual average days on market for single family detached Albuquerque homes listed in July 2011 is 73 days compared to 69 days in July 2010.
For those of you that prefer to see the data in a table format I have provided that format below. Green numbers are positive trends and red numbers are negative trends.
Homes Sold
| Area Name |
MLS Area |
July 2011 |
July 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
439 |
400 |
9.75% |
| Rio Rancho |
140 – 162 |
113 |
87 |
29.89% |
Albuquerque Housing Market Statistics Median Price
| Area Name |
MLS Area |
July 2011 |
July 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$178,500 |
$190,000 |
(6.05%) |
| Rio Rancho |
140 – 162 |
$170,000 |
$159,000 |
6.92% |
Average Price
| Area Name |
MLS Area |
July 2011 |
July 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$212,420 |
$236,419 |
(10.15%) |
| Rio Rancho |
140 – 162 |
$183,261 |
$171,237 |
6.92% |
Days on Market
| Area Name |
MLS Area |
July 2011 |
July 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
73 |
69 |
5.8% |
| Rio Rancho |
140 – 162 |
97 |
70 |
38.57% |
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