Price of Home Sales Increase!

The average sale price of detached homes in Rio Rancho increased in June from May numbers, while the number of active homes on the market continues to decline, according to information released this week from the Greater Albuquerque Associationof Realtors, which keeps sales data.

Average number of days a home is on the market before being sold continues to increase over last year. Currently, that number is 83 compared to 77 in June 2011. The average sales price was $193,063, compared to $187,197 in May and $177,670 last year.

There were 564 homes in Rio Rancho on the market in June compared to 758 last year. Statistics indicate a slow recovery from the housing market bust of 2008. There were fewer new listings in June (193 compared to 217 in 2011), which tightened the number of homes available.

For the greater Albuquerque are, there are 3.81 homes for sale for every buyer and there is a seven-month supply of homes for sale. In December 2010 there were 9.46 homes for sale for every buyer and there was a nine month supply of home.

Needles to say, eventhough we are seeing an increase in sales in certain areas, across North America, we still have a long ways to go for recovery.

*GOD Speed*
TLD Investments LLC


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