December 14, 2019

May 2012 New Mexico Sales Number and Median Price Above May 2011

Posted on 01. Jul, 2012 by Stephan Helgesen in Economy

May sales numbers in New Mexico out-paced both April 2012 numbers and those reported for May of 2011.  1,358 sales were reported to the REALTORS Association of New Mexico (RANM) during May 2012.  This compares to 1,256 in April 2012 and 1,200 in May 2011.

The reported May 2012 median price was $170,000.  This number is 3% higher than the median reported in May 2011.

Is the New Mexico market really turning around?  According to Debbie Rogers, 2012 President of RANM, “There is optimism.  Brokers have started seeing multiple offers at list price or higher during the past few weeks.  Many distressed properties are still on the market and influence median prices, however, banks are beginning to see the wisdom of short sales over foreclosure, and this is helping our market.”

“Short sales and foreclosures throughout the state are reflected in year to date median prices – $163,000 – which is just over 1% lower than the 2011 January through May median,” according to Steven Anaya, RANM Executive Vice President.  “The good news is the number of sales continues to increase.

Over 10% more sales have been reported to date for 2012 than January through May 2011.”  5,619 sales were reported for the first five months of 2012; 5,094 sales were reported during the same period in 2011.

Again, monthly (and year to date) numbers vary considerably by market.  Comparing May 2011 to May 2012, roughly half the counties reporting showed an increase in sales or median price and half showed decreases.  Bernalillo, Eddy, Grant, Sandoval, Sierra, and Valencia counties all showed an increase in both number of sales and 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.

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 619/12.  Visit www.nmrealtor.com (housing trends) for county and board statistics.

This information was submitted by The REALTORS Association of New Mexico is one of the state’s largest trade associations, representing over 5,500 members involved in all aspects of the residential and commercial real estate market.

Tags:

Comments are closed.

Bad Behavior has blocked 226 access attempts in the last 7 days.