During the first half of 2010, as compared to the first half of 2009, the average price of a single family detached home increased in 13 of the 41 metro Albuquerque areas where the Greater Albuquerque Association of Realtors tracks prices. See the table at right. Only two areas with significant sales registered fewer 2010 sales than during the 2009 period.
During July, the $186,000 median detached home price was the highest since August 2009. The average price for July, $230,213, was the highest since August 2008.
The 557 detached home sales closed during July showed a 23% drop from June, continuing to reflect the end of the first-time buyer tax credit. However, the 752 sales pending during July were a 3.2% increase from June. Pending sales in one month are an indicator of closed sales the following month.
The difference in sale prices continues to reflect the vast array of home choices around metro Albuquerque. Six areas with average prices at about $150,000 or less lead the affordable home parade. At the other end of the price spectrum, two areas had average prices of more than $500,000 during the first six months of the year.
