Paul Chavez

The number of detached homes sold in metro Albuquerque during July increased from July 2008. The 735 sales represented the first year over year increase since April 2006. The improvement wasn't large, 31 sales or 4.4%, but as is said about athletic contests, a win is a win. July sales were also up 13.2% from June, continuing the monthly sales growth that began in February.

The total value of detached homes sold during July was $165 million, 2.9% lower than during July 2008. Monthly dollar sales volume during 2009 has been down 20% from the same month of 2008. During July, 94 townhouses and condominiums sold for a total of $14.5 million. Condo sales were up 36% from July 2008. The value grew 27%.

Pending sales during July, 875, though down from the 933 sales that were pending during June, were the second highest this year and up slightly over July 2008.

Homes continue to sell more quickly around the metro. During July, the average home that sold was on the market for 75 days, the shortest sales period of 2009.