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Solid gains for home sales, prices

A house for sale at the intersection of Ridgecrest Drive S.E. and Sunrise Place on Wednesday, April 3, 2013.
A house for sale at the intersection of Ridgecrest Drive S.E. and Sunrise Place on Wednesday, April 3, 2013.
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Second-quarter home sales and median prices in New Mexico showed solid improvement over the same time period in 2012 and 2011, the Realtors Association of New Mexico reported Thursday.

The group, which measures a combination of new and existing home sales, said there were 4,428 sales January through March, a 9 percent increase over the 4,063 sales in the same period last year and 23 percent better than the 3,608 sales a year earlier than that.

The 2013 second-quarter median price was $170,000 and reflects a small but steady increase over second-quarter median price in 2011 and 2012, RANM said. The year-to-date 2013 median of $169,000 reflects a similar increase over the past two years.

Median price indicates half the properties sold for more and half for less.

“The number of sales for the month of June 2013 is less than 1 percent less than those reported in June 2012,” RANM President Cathy Colvin said in a statement. “Low inventories and an increase in mortgage rates contribute to this slight decrease. The good news for sellers is the June median price of $179,000 is 5 percent higher than the May 2013 median and over 4 percent higher than the June 2012 median.”

In the Albuquerque metro area, sales of single-family detached homes increased 25 percent compared with June 2012, the Greater Albuquerque Association of Realtors reported last week.

There were 859 closed sales in June – down a bit from the 903 sales in May – but well up from the 685 sales in the same month last year, the group said. The median sales price remained the same at $172,000 as June a year ago.

A third report showed that home sales in Santa Fe were on the rise but down slightly in the county, according to second-quarter statistics released by the Santa Fe Association of Realtors.

Total sales of homes within the city limits rose 4.4 percent from 183 to 191 homes.

Sales for homes in the county dropped nearly 11 percent, from 157 to 140, during the second quarter as compared to the same period last year.

The median price for a single-family home within the city limits dropped slightly to $252,684, while the county saw a sharper drop to $331,500.

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