It was an exceptionally strong month for home sales in the UNM area during August 2012. Sales were up by almost 50% when measured both year to date and month to month. In addition, the average price per square foot has been very strong over the last three months, indicating at least a short term recovery in pricing. Home shoppers in the UNM area were under a lot of pressure in August to find a home and act quickly.
To view the most current list of UNM Area Homes for Sale click here.
Quick Stats for the UNM Area
UNM real estate activity at a glance:
|Total Detached Sales||29|
|Price Range||$115,000 to $900,000|
|Average Sales Price||$295,381|
|Median Sales Price||$259,900|
Home Sales Spike In The UNM Area During August
Home sales were up sharply during August 2012 with 26 homes sold. That’s up considerably from last year and last month. 16 homes were in pending status. New listings were up as well.
Average Price Per Square Foot Recovering?
The average price per square foot has been up for the last three months. It has averaged $133 over the last year, and $135 per square over the last 6 months, and $142 per square over the last three months. This in itself is good news, but when you combine this information with similar info from the other areas of the Northeast Heights a positive picture emerges of the market, at least for one part of town for one part of the year.
UNM Area Housing Inventory
The large increase in home sales outweighed the increased number of listings and resulted in a very hot real estate market in the UNM area during August. When there is less than three months of homes available, buyers have to be very decisive and need to move quickly.
Written by Albuquerque Real Estate Agent Rich Cederberg. Please call or text (505) 803-5012 for more information or to receive a complimentary market analysis for your home.
These UNM Area real estate stats were provided by the Southwest MLS on 09/20/2012.