The area has seen an decrease in new listings from 1,817 in Jan of 2008 to 1,615 in February of 2008, a 11.12% decrease.
The February 2008 Average of 71 Days on Market has remained the same as the 71 days on market from Jan of 2008.
Average Days on Market is now being calculated based upon the time it takes a property to go from the listing date to being under contract for sale (pending).
In February, the Greater Albuquerque Market saw a Median Sales Price of $189,250 and an Average Sales Price of $226,342 for Detached Residential Homes.
The Greater Albuquerque area has seen a decrease in closed sales for type DET and ATT homes, from 820 in Feb of 2007 to 592 in Feb of 2008, a 27.81% decrease.
To keep updated on market conditions or to find out how to buy or sell a home, please contact me at my site at http://www.realestateinabq.com/