Albuquerque Housing Market Statistics May 2011
Albuquerque Housing Market Statistics is a summary of the Greater Albuquerque Association of Realtors monthly report. May Albuquerque housing market statistics data compared on a year over year basis brings bad news 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.
May’s year over year comparison for the Albuquerque housing market continues to show average and median prices are falling. The Rio Rancho housing market continues to show average and median prices are falling. Number of homes sold increased in Rio Rancho over last month, however, sales closed in Albuquerque decreased by 18.71%. The Albuquerque housing market is being driven by three negative factors, 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 May 2011 decreased by 18.71% compared to May 2010. Actual number of single family detached Albuquerque homes sold in May 2011 is 430 compared to 529 in May 2010.
Albuquerque Housing Market Statistics Median Price
The median price for single family detached Albuquerque homes in May 2011 decreased by 5.03% compared to May 2010. Actual median price for single family detached Albuquerque homes sold in May 2011 is $170,000 compared to $179,000 in May 2010.
Albuquerque Housing Market Statistics Average Price
The average price for single family detached Albuquerque homes in May 2011 decreased by 4.22% from May 2010. Actual average price for single family detached Albuquerque homes sold in May 2011 is $205,030 compared to $214,062in May 2010.
Albuquerque Housing Market Statistics Active Listings
The total number of active listings for single family detached Albuquerque homes in May 2011 decreased by 6.3% compared to May 2010. Total active detached single family Albuquerque homes listed in May 2011 is 3,106 compared to 3,315 in May 2010.
Albuquerque Housing Market Statistics Days on Market
The average days on market for single family detached Albuquerque homes in May 2011 increased by 35.43% from May 2010. Actual average days on market for single family detached Albuquerque homes listed in May 2011 is 82 days compared to 61 days in May 2010.
Homes Sold
| Area Name |
MLS Area |
May 2011 |
May 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
430 |
529 |
(18.71%) |
| Rio Rancho |
140 – 162 |
131 |
122 |
7.38% |
Median Price
| Area Name |
MLS Area |
May 2011 |
May 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$170,000 |
$179,000 |
(5.03%) |
| Rio Rancho |
140 – 162 |
$150,000 |
$160,950 |
(6.80%) |
Average Price
| Area Name |
MLS Area |
May 2011 |
May 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
$205,030 |
$214,062 |
(4.22%) |
| Rio Rancho |
140 – 162 |
$171,094 |
$176,480 |
(3.05%) |
Days on Market
| Area Name |
MLS Area |
May 2011 |
May 2010 |
Increase (Decrease) |
| Albuquerque |
10 – 121 |
82 |
64 |
34.43% |
| Rio Rancho |
140 – 162 |
81 |
60 |
35% |
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