2. Active, Pending and Closed Sales August 2013
In 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.
3. Average Price Per Square Foot August 2013
The 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.
4. Average Days on Market August 2013
The 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.
5. Average List Price vs. Sales Price August 2013
The 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?
6. Months of Home Inventory August 2013
The 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%.
7. 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.
8. To view more real estate stats visit my blog at
AlbuquerqueRealEstateBuzz.com
Albuquerque Real Estate Stats
August 2013
(505) 750-1846
9. 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 visit
AlbuquerqueRealEstatePlace.com
(505) 750-1846