Thursday, July 18, 2013
2013 Year to Date and 2nd Quarter Sales and Prices Top 2012 Numbers
2013 Second Quarter sales and median prices reported to the REALTORS Association of New Mexico (RANM) show an increase over 2011 and 2012 second quarter reports.
4,428 sales were reported in the second quarter of 2013. This tops the 2012 number of 4,063 by 9% and the 2011 number of 3,608 by nearly 23%.
7,764 sales were reported year-to-date (January through June) 2013. 7,082 sales were reported January through June 2012 and 6,395 sales were reported January through June 2011.
The 2013 Second Quarter median price as reported at $17o,000 and reflects a small, but steady increase over second quarter median price in 2011 and 2012. The year-to-date 2013 median of $169,000 reflects a similar increase over the past two years. Median price indicates half the properties sold for more and half for less.
“The number of sales for the month of June 2013 is less than 1% less than those reported in June 2012,” according to RANM President Cathy Colvin. “Low inventories and an increase in mortgage rates contribute to this slight decrease. The good news for sellers is the June median price of $179,000 is 5% higher than the May 2013 median and over 4% higher than the June 2012 median.”
M. Steven Anaya, RANM CEO adds “Local economic conditions also play a role in state-wide numbers. Our reports show a nearly even break-out of counties showing increases and counties showing decreases in both the number of sales and in median prices.”
The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.
Diane Moehlenbrink, CAE, RCE
Communications, Marketing and Events Director
REALTORS® Association of New Mexico
505-982-2442, ext. 164; fax 505-983-8809