Albuquerque, NM (January 10, 2023) – According to the latest monthly statistics prepared by the Greater Albuquerque Association of REALTORS®, single-family detached homes going under contract decreased 15.4 percent to 631 homes when compared to December 2021. Inventory of single-family detached homes increased 51.0 percent compared to December 2021 to 1105 units, and 569 new listings were added to the market, representing a 19.1 percent decrease compared to the same time last year.
The median price of a single-family home was $326,750, a 3.7 percent increase from December 2021. The average sales price increased 2.3 percent from the previous year to $372,389. Single-family homes sold on average in 30 days, 66.7 percent slower when compared to December 2021. The average percent of list price received decreased to 98.9percent, a 1.5 increase over the same period last year.
The median sales price for condos/townhomes increased 16.9 percent to $245,000 when compared to December 2021, and average sales price increased 17.6 percent to $252,057. Pending sales decreased 9.6 percent to 66 units, while inventory increased 21.4 percent to 68 homes for sale. Condos/townhomes sold on average in 19 days, 46.2 percent slower when compared to December 2021, and 54 new listings were added to the market, a 19.4 decrease from December 2021.
“Last month we had more homes on the market than this time last year,” said Carrie Traub, 2023 President of the Greater Albuquerque Association of REALTORS®. “As we get past the holiday season, we expect to see an uptick in sales activity.”
