Home sales took a nose dive in the UNM area after one of the strongest months in a long time. This was to be expected, and actually the number of closed sales matched this time last year. Pricing is hard to predict in the UNM area since many of the homes are remodels and some have not been upgraded in years.
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||10|
|Price Range||$165,000 to $345,000|
|Average Sales Price||$241,830|
|Median Sales Price||$231,975|
Home Sales Return to Normal in September…and then some
After an incredible month of home sales in August (31 closed sales), home sales returned to more normal levels in September (10 closed sales). The 10 home sales in September 2012 match the number of home sales in September 2011. Continuing their roller coaster ride, pending home sales were back up, increasing by a third over last month.
Price Per Square Foot is Unpredictable
The average price per square foot has been anything but steady over the last 5 months, ranging from $128 to $147. The wide variation in pricing is probably a result of the wide variety of home conditions in the UNM area. Prices on the homes that have been remodeled are considerably higher than the prices on the others.
UNM Area Housing Inventory
With fewer home going under contract in September, the number of homes the few buyers had to choose from seemed greater. There’s no way to know for sure, our local MLS does not track this, but I’m the number of multiple offer situations was greatly decreased.
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 11/02/2012.