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You are here: Home / Blog / Albuquerque Real Estate is Gaining Stability

Albuquerque Real Estate is Gaining Stability

November 15, 2011 John Kynor Leave a Comment

Buoyed by lower prices and near historic low interest rates, home sales perked up in the Albuquerque metro region in October. Sales for single-family detached homes last month were 24.12 percent higher than in October 2010 and 9.48 percent higher than September 2011.

The top sales price range in October was $120,000 to $139,000, according to the Greater Albuquerque Association of Realtors’ monthly report.

The increase in homes sold led to an 11 percent increase in the dollar volume, to $114.3 million. Home prices have been dropping most of 2011 and that continued in October, with the average sale falling 10.5 percent, to $201,874 and the median (half above, half below) sale was more than $167,000, a 7.22 percent drop from a year ago. Inventory continues to drop as well as active listings are now at 4,469, which represents a drop of 18 percent compared to October 2010. A paucity of new home building is putting a lid on inventory.

via bizjournals.com

Posted on Albuquerque Real Estate-Albuquerque Homes For Sale

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Filed Under: Blog, Latest News

About John Kynor

John Kynor is the Founder, CEO & Qualifying Broker of Q Realty®. John has enjoyed over 15 years in Albuquerque real estate and is a multi-million dollar producer. He founded Q Realty® in 2012, which quickly became one of the top real estate companies in Albuquerque ("The Q"). Contact John at John@Qrealty.com with any questions.

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