New Mexico bucks national downward trend in housing sales
A 45 percent increase in home sales reported in August compared to the same month a year ago
Dianne L. Stallings- Los Alamos County reported the shortest average time on market, just 17 days
Nationally, home sales numbers are on the decline as prices rise and inventory remains low, but New Mexico continues to buck the trend with monthly increases in the number of sales reported to the REALTORS Association of New Mexico.
The state association report shows 447 sales in Lincoln County year to date in 2018 with a median price of $220,500, meaning 50 percent sold higher and 50 percent sold lower. Active August listing were 3,720 with 87 sales for a volume of $30,232,500. The average number of days on the market for a home was 194 and the average sale price was $347,500. One hundred and one listings were pending.
"Three thousand one hundred fifty-five sales were reported to RANM in August 2018. This is an increase of over 45 percent from the number of sales reported in August 2017,” Connie Hettinga, RANM President, said. “With less than 800 sales to go, 2018 is on its way to surpassing 2017 year-end number of sales during the first three quarters of 2018."
“New Mexico median home prices also continue to hover around the $200,000 mark,” Steven Anaya, RANM chief executive officer, said. “August’s median of $206,950 is the second highest monthly median reported this year. The year to date median of $200,000 has remained steady since June.”
Los Alamos County reported the shortest average time on market ,just 17 days. Bernalillo, Grant, Sandoval, Santa Fe, Torrance, and Valencia Counties also reported average days on market less than the statewide average of 69 days.
More: Local market sees drop in July:State housing market booms in July, local market sees 13 percent drop from June
For comparison, in August 2017, sales of 2,090 were reported with a median price of $193,500 and a volume of $510,628,326, while August 2018 saw sales of 3,155 for a median price of $206,950 and volume of $831,069,901.
13,342 with a median price of $183,000 compared to 2017 at 14,521 sales and a median of $189,900, and 2018 with 21,429 sales and a median price of $200,000.The trends and numbers reported are only a snapshot of market activity. Anyone interested in buying or selling, consult a Realtor familiar with the particular market area to provide information on specific trends in a neighborhood.
More: June sales boom:Home sales continue to set records in the county and state
Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to U. S. House Stats. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico Multi-Board MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Association of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS.
Reports represent single family residential data only. Information does not necessarily represent all activity in any market/county. Figures are based on reports run Sept. 14, 2018. Visit www.nmrealtor.com (housing trends) for county statistics.
The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 6,000 members involved in all aspects of the residential and commercial real estate market.