January 19, 2021

2011 New Mexico Home Sales Nearly Equal 2010 Numbers

Posted on 12. Feb, 2012 by Stephan Helgesen in Economy

13,233 New Mexico sales were reported to the REALTORS Association of New Mexico (RANM) during 2011.  This number is 1.4% less than the number reported for the year 2010.  Twelve of the counties reporting sales showed an increase in 2011 over 2012; 16 counties reported a decrease.

Fourth Quarter 2011 sales numbers were 8.4% higher than numbers reported for the fourth quarter of 2010.  December, generally a slow month for sales, bucked the usual trend and 2011 numbers were only .3% less than November 2011

RANM President Debbie Rogers of Silver City says “The pattern of home sales in recent months seems to point to a modest market recovery.  Record low mortgage interest rates, job growth, and bargain home prices are giving more consumers the confidence they need to enter the market.”

Distressed sales continue to be reflected in the median price of homes.  Both the fourth quarter and December 2011 median price statewide was $165,000.  For the year 2011, the statewide median was reported at $167,000.  This number if 10% lower than the 2008 median price, but only 4.5% less than the 2010 median price.

Steven Anaya, RANM Executive Vice President, speculates “Median prices are still going down, but at a slower rate than previous years.  This seems to indicate the number of foreclosure and short sale homes is slowly beginning to be a smaller portion of the monthly sales.”

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.

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 Board 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 based on reports run 1/18/12.  Visit www.nmrealtor.com (housing trends) for county and board statistics.

This information was submitted by The REALTORS Association of New Mexico which is one of the state’s largest trade associations, representing over 5,800 members involved in all aspects of the residential and commercial real estate market.

 

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