Albuquerque Housing Market Statistics July 2011

Albuquerque Housing Market Statistics July 2011

Albuquerque Housing Market Statistics

Albuquerque Housing Market Statistics is a summary of 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 toÂ 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.

Albuquerque Housing Market Statistics 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.

Rio Rancho Housing Market Statistics

Rio Rancho Housing Market Statistics Homes Sold

The total number of single family detached Rio Ranch homes sold in July 2011 decreased by 29.89% compared to July 2010. Actual number of single family detached Rio Rancho homes sold in July 2011 is 113 versusÂ 87 in July 2010.

Rio Rancho Housing Market Statistics Median Price

The median price for single family detached Rio Rancho homes in July 2011 decreased by 3.18% compared to July 2010. Actual median price for single family detached Rio Rancho homes sold in July 2011 is $170,000 compared to $159,000 in July 2010.

Rio Rancho Housing Market Statistics Average Price

The average price for single family detached Rio Rancho homes in July 2011 increased by 7.02% from July 2010. Actual average price for single family detached Rio Rancho homes sold in July 2011 is $183,261 compared to $171,237 in July 2010.

Rio Rancho Housing Market Statistics Active Listings

The total number active listings for single family detached Rio Rancho homes in July 2011 decreased by 16.29% compared to July 2010. Total number of active detached single family Rio Rancho homes listed in July 2011 is 740 compared to 884 in July 2010.

Rio Rancho Housing Market Statistics Days on Market

The average days on market for single family detached Rio Rancho homes in July 2011 increased by 35.87% from July 2010. Actual average days on market for single family detached Rio Rancho homes listed in July 2011 is 97 days compared to 70 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.

Albuquerque Housing Market Statistics Homes Sold