Chart 1: Month over Month increases in Median Sale Price
Summary of Chart 1: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous year. With 42 Areas reporting 2 or more sales, 19 saw price increases and 23 Areas saw price reductions. Interesting to note is the fact that four of the areas had decreases in the number of home sales yet still had increases in the sale price.
Chart 2: QTR over QTR increases in Median Sale Price
Chart 3: Year over Year increases in Median Sale Price
Summary of Chart 3: This chart shows the 10 MLS areas that saw the greatest increase in the median sale prices from the previous Year-to-Date sales. With 46 areas reporting 5 or more sales, 17 saw price increases while 28 Areas saw price reductions (1 Area had no change in median sale price).
The sale price of homes is a widely publicized market statistic. When a real estate market sees increases in the overall sale price it may be an indication that the market is improving or that homes are regaining value they had during peak sale years. Since 2006 the Greater Albuquerque Market areas have seen the median monthly sale price of single-family homes rise to $205,000 (May 2008) and dip as low as $169,950 (February 2010). As of June 2010 our monthly market reports shows that single-family, detached homes have a median sale price of $181,000, the highest monthly median value since August 2009.
For all three charts presented in this article the data shows that at least 17 individual MLS areas are seeing increases in the median sale price when compared to the previous year. The areas showing the increases are not in a specific location and appear to be spread across different parts of the Greater Albuquerque Market Areas. All of the counties that are serviced by SWMLS (Valencia, Sandoval, Bernalillo and Torrance) included an Area that was in the 10 top list for increases in median sale price.
Source: Southwest MLS, Inc. Information deemed reliable not guaranteed.
For more information about Albuquerque Real Estate, contact the eTeam
Leave a Reply