There were mixed results in the Albuquerque real estate sector again in September, 2010.
Compared to the same month in 2009, both average and median prices were up, but the number of closed sales and the number of pending transactions were both down. And neither median nor average price has quite gotten back up to the figures for September of 2008.
According to figures published by the Greater Albuquerque Association of Realtors, average prices for single family detached homes in September 2010 was $217,677, compared to $209,987 in September of 2009, and $222,947 in the same month two years ago. Similarly, this years September median sales price in the greater Albuquerque area was $183,000, compared to figures of $179,900 and $186,500 in 2009 and 2008, respectively. See charts below:
Not such bad real estate statistics!
But the problem comes with the actual number of sales. In September this year, only 479 single family detached homes actually closed, compared with 661 in September of '09. And there were only 657 such properties in pending, compared with 923 in the same month last year. Those are huge decreases, although some of that change is almos certainly due to the homebuyer tax incentives that were in place last fall, and are no longer propping up sales numbers.