ABQ market slows but home prices stay high in January - Albuquerque Journal

ABQ market slows but home prices stay high in January

Pictured is Tego Venturi of Venturi Realty Group about to place a sign on a house for sale on the West Side Monday afternoon. (Roberto E. Rosales/Albuquerque Journal)

Albuquerque’s housing market slowed down but home price growth stayed strong during the first month of 2022, according to the most recent monthly market report from the Greater Albuquerque Association of Realtors.

The median price of a single-family detached home was $310,000 in January, a 20.2% increase from January 2021, according to the report.

The report also showed that 14.4% fewer homes went under contract this January compared to last. Additionally, the inventory of single-family detached homes decreased by 41.3% compared to last January.

“With fewer homes on the market in January, it’s predictable that we experienced less activity,” said GAAR board president Bridget Gilbert in a prepared statement. “Any homes listed continue to sell quickly and at increased prices over last year.”

The median sales price for condominiums and townhomes increased 16.9% year-over-year to $210,500 in January. The number of new condo and townhome listings dropped from 107 units last year to 76 in January, according to the report.

To see the full report for January 2022 market statistics, go to www.gaar.com/market-statistics.

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