Tag Archives: average prices

A look at real estate sales in the past 8 months in Luna County NM

The numbers are a little different.  Part of that is good and part is not so good.  This is based on all residential sales in the county…in town, in the county, site built and manufactured.  It’s just a snapshot.  The prices ranged from $9,000 to $308,000.  It’s just something to take a look at.

Jan 1 thru Aug 31    Sold     $ Volume          Average Price     Median Price      DOM

2013                          87        $8,496,359        $97,659              $95,000            246

2014                         101       $9,091,725        $90,017              $78,000            200

What does this tell us?  I have no idea.  The good news is that more folks are buying house this year that they were this time last year.  If the increase is sales keeps up, the rest will work itself out.

Ok…this looks good.

I just ran MLS sold stats from the first quarter of 2013 compared to the first quarter of 2012. And I think you’ll like it too!

Residential Sales Jan 1 – Mar 31. 2013. 28 sales closed for a total value of $3,178,184 with and average price of $113,507 and a median price of $112,500. Average days on the market – 205.

Residential sales from Jan 1 – Mar 31, 2012.  22 sales closed for a total value of $1,890,600 with an average price of $85,936 and a median price of $79,000. 183 average days on the market.

There is certainly room for improvement, but at we’re doing better than we were! Thank God! Let’s just hope it keeps improving!

There are still plenty of houses listed so give us a call! We’ll be happy to help you find the perfect house for you!

Sold stats Deming, NM Jan 2013

The sold stats from the local MLS seem to be in line with the state…we sold more residential properties in January, 2013 than in January, 2012 but for a little less money.  In January, 2013 there were 11 residential properties sold for a Total Price of $1,224,884 with an Average Price of $111,353, a Median Price of $110,000 and 219 Average Days On The Market.

In 2012 there were 6 residential properties sold for a Total Price of $801,000 with an Average Price of $133,500, a Median Price of $136,750 and 155 Average Days On The Market.

There are currently 229 residential properties listed for sale in the Deming/Luna County area.  The inventory is out there!  It’s time to buy!  Get qualified at your lender of choice and come see us!!!

January Sales from the REALTORS Assn. of New Mexico

For Immediate Release

Contact: M. Steven Anaya, 800-224-2282

January Home Sales Off and Running

970 home sales were reported to the REALTORS® Association of New Mexico (RANM) for January 2013. This is over 19% more sales than January 2012 and nearly 24% more than the number of sales reported in January 2011. Only four counties reported a drop in the number of sales for January 2013 compared to January 2012.

“What a great way to start 2013,” said Cathy Colvin, RANM President. “Inventories are still low in many markets, but the pent-up demand for homes is creating activity in markets around the state.”

According to RANM CEO M. Steven Anaya, “Prices are still showing decreases from previous years. The good news, however, is that median price decreases are getting smaller with each month. While distressed sales are still high by historical standards, they have fallen from their peaks in most markets, helping to alleviate the downward pressure on home prices in many areas.”

January’s reported median for New Mexico properties was $159,500. While this is just over 4% lower than the January 2011 median of $168,500, it is only 1.1% lower than the January 2012 median of $161,240. Median price indicates half the properties sold for more and half for less.

Tight lending standards, uncertainty in the market, and pending federal legislation still play a role in preventing an unqualified housing recovery. Americans however, still want to call themselves homeowners. A recent NATIONAL ASSOCIATION OF REALTORS® survey showed nearly 60 percent of current renters plan to purchase a home in the next two years.

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 2/18/13. Visit http://www.nmrealtor.com (housing trends) for county and board statistics.

The REALTORS Association of New Mexico 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.

2201 Brothers Road Santa Fe, NM 87505 505-982-2442 800-224-2282 fax 505-983-8809 nmrealtor.com

November stats from the REALTORS Assn. of New Mexico

Year to Date Sales Continue to Improve

2012 sales are on track to be higher than those numbers seen the last five years (RANM started tracking state-wide sales in 2007).  2012 Year to Date Numbers (January through November) reported to the REALTORS Association of New Mexico show 13,884 sales.  As a comparison, January through November numbers for 2007 through 2011:

2007

9,671

2008

13,714

2009

12,804

2010

12,409

2011

12,223

2012 Year to Date median price is identical to the 2011 Year to Date median of $167,000.  Median price indicates half the properties sold for more and half for less.

Seasonal trends are apparent as November sales numbers are down from October – 1,165 reported sales for November, 2012 compared to 1,400 reported sales in October, 2012.  However, November, 2012 numbers are nearly 10% higher than November 2011 when the number of sales was reported at 1,064.

November 2012’s reported median price of $169,000 is slightly lower than the October, 2012 median, but is over 5.5% higher than the reported November 2011 median of $160,000.

“HomeGain’s recent home values survey indicates the majority of real estate professionals expect prices to increase over the next six months,” according to Debbie Rogers, 2012 RANM President.  “Homeowners are less optimistic of short term increases, but the majority thinks home values will increase in the next two years.  Optimism is on the rise, but as all real estate is local, conditions in specific markets may vary from the national trend.”

M. Steven Anaya, RANM CEO cites the REALTORS’ Confidence Index, a survey conducted by the NATIONAL ASSOCIATION OF REALTORS to track expectations about overall market conditions, traffic, price, and issues affecting real estate.  “REALTORS reported the inventory of homes for sale remains very tight, resulting in multi-bidding in some cases.  REOs and other properties do not appear to be coming on market sufficiently to meet demand, while sellers are also waiting for prices to pick up further.  Listings for properties that are in good condition are reported as receiving multiple offers.  Investors are snapping up REOs, paying cash.”

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

diane@nmrealtor.com

www.nmrealtor.com

 

 

 

Sold Stats from the REALTOR’S ASSN OF NM

Contact:  M. Steven Anaya, 800-224-2282 

Home Sales Trends:  Same Story, October Version 

The latest home sales numbers reported to the REALTORS® Association of New Mexico (RANM) indicate the number of New Mexico sales continues to increase and median prices are leveling off – the same story reported in September.

During October 2012, 1,377 New Mexico sales were reported to RANM.  This number continues the upward trend from recent reports.

October 2012:  1,377 sales reported

September 2012:  1,356 sales reported

October 2011:  1,181 sales reported

October 2010:  998 sales reported

The state wide median price (median price indicates half of the properties sold for more and half for less) continues to hold steady.

October 2012 median:  $170,000

September 2012 median:  $170,000

October 2011 median:  $170,000

October 2012 median:  $174,950

Year to date (January through October 2012) sales numbers show a similar trend with a 13.6 % increase over the same period in 2011.

January through October 2012:  12,681 sales reported

January through October 2011:  11,159 sales reported

January through October 2010:  11,419 sales reported

Year to date median prices for 2012 are not as high as those reported in 2011 or 2010.  Distressed properties are still causing a disproportionate effect on sales prices in New Mexico.

January through October 2012 median:  $167,000

January through October 2011 median:  $168,000

January through October 2010 median:  $174,000

“Nationwide reports from the NATIONAL ASSOCIATION OF REALTORS (NAR) indicate home prices are rising in most areas across the country,” said RANM 2012 President Debbie Rogers.  “Traditionally New Mexico never sees the dramatic highs or lows associated with many areas, and trends here lag national trends by about six months, so our state, while beginning to show signs of stabilization in median prices, has not yet reported the increases many states are already seeing.”

M Steven Anaya, RANM CEO, says there is good news for buyers.  “The latest Housing Affordability Index, a quarterly report that measures the ability of a family earning the median income to purchase a median-priced home, suggests  that the national median priced home was actually slightly more affordable for the median income family in July 2012 than it was in July 2011.  And even as median prices rise, affordability is also based on mortgage rates, which continue to be at record lows for qualified buyers.”

Diane Moehlenbrink, CAE, RCE

Communications, Marketing and Events Director

REALTORS® Association of New Mexico

505-982-2442, ext. 164; fax 505-983-8809

diane@nmrealtor.com

www.nmrealtor.com

 

Sales stats from Deming and Luna County

During the first three quarters of the 2012 we REALTORS in Deming have sold 79 residential properties for a total value of $7,347,634.  The average price is $93,008, the median price is $79,300 and the average days on the market is 193.

During the first three quarters of 2011 we sold112 residential properties for a total value of $9,476,229.  The average price was $84,609, the median price was $75,000 and the average days on the market was 192.

Sales stat from the REALTORS Assn. of NM

REALTORS Association of New Mexcio2012 RANM OFFICERS
Debbie Rogers CRS, GRI, e-PRO President
Cathy Colvin CRS President-Elect
Sandylee Pasquale, Treasurer
M. Steven Anaya Executive Vice President

For Immediate Release
Contact: M. Steven Anaya, 800-224-2282
Sales Numbers Continue to Increase; Median Prices Show Stabilization

The following numbers have been reported to the REALTORS Association of New Mexico (RANM):

September 2012 sales: 1,333
September 2011 sales: 1,110
September 2010 sales: 1,076
3rd Quarter 2012 sales: 4,193
3rd Quarter 2011 sales: 3,584
3rd Quarter 2010 sales: 3,352
Year to Date* 2012 sales: 11,261
Year to Date* 2011 sales: 9,978
Year to Date* 2010 sales: 10,418

September 2012 median: $170,000
September 2011 median: $170,011
September 2010 median: $180,000
3rd Quarter 2012 median: $170,000
3rd Quarter 2011 median: $170,000
3rd Quarter 2010 median: $179,000
Year to Date* 2012 median: $166,500
Year to Date* 2011 median: $167,500
Year to Date* 2010 median: $174,000

“The continued rise in the number of sales in New Mexico is good news,” says Debbie Rogers, 2012 President of RANM. “And it’s the same old story about median prices. Distressed properties are still affecting the median price of all homes sold. The good news is, the drop in median from the previous reporting period is less each report, indicating market prices are slowly stabilizing.” Median price indicates half of the properties sold for more and half for less.

“While the New Mexico market is seeing a light at the end of the tunnel, appraisals are still creating issues in the state and nationwide,” according to M Steven Anaya, RANM CEO. Anaya cites findings from a recent survey conducted by the NATIONAL ASSOCIATION OF REALTORS (NAR). “While most appraisers are competent and provide good valuations that are compliant with the Uniform Standards of Professional Appraisal Practice, appraisals generally lag market conditions and some changes to the appraisal process have been causing problems in recent years, including the use of out-of-area valuators who lack local expertise, full access to local data, inappropriate comparisons, and excessive lender demands.”

NAR’s national survey revealed 65 percent of REALTORS® surveyed in September report no contract problems relating to home appraisals over the past three months. 11 percent said a contract was cancelled because an appraised value came in below the price negotiated between the buyer and seller, 9 percent reported a contract was delayed, and 15 percent said a contract was renegotiated to a lower sales price as a result of a low valuation. These findings are notable given that homes in many areas are selling for less than replacement construction costs.

Lawrence Yun, NAR chief economist, said there has been a steady level of appraisal issues for quite some time. “Though the real estate recovery is taking place, the combined issues of stringent mortgage lending requirements and appraisal frictions are hampering otherwise qualified buyers from purchasing a home in a timely fashion, and in some cases are preventing them from buying at all,” he said.

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.

*Year to Date = January through September

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 10/18/12. Visit http://www.nmrealtor.com (housing trends) for county and board statistics.

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.
2201 Brothers Road Santa Fe, NM 87505 505-982-2442 800-224-2282 fax 505-983-8809 nmrealtor.com

August, 2012 Sales Stats from the Realtor’s Assn. of New Mexico

August New Mexico Home Sales Continue Positive Trends 

August New Mexico real estate transactions reported to the REALTORS Association of New Mexico (RANM) continue July upward trends.  1,440 August 2012 sales were reported.  1,273 sales were reported in August 2011 and 1,146 sales were reported in August 2010.

Median prices still continue their up and down variance depending on short sale volume each month.  The August 2012 median of $169,773 is 3.5% higher than the August 2011 median of $164,000, but 3% less than the August 2010 median of $175,000.  Median price indicates half the properties sold for more and half for less.

The addition of the August numbers mean year to date sales activity (January through August 2012) continues to be ahead of sales for the first eight months of both 2011 and 2010.  9,879 sales have been reported in 2012.  8,865 sales were reported for January through August in 2011; 9,342 in 2010.

The 2012 year to date median price is $165,500.  While this is less than both the 2011 and 2012 year to date medians ($167,000 for 2011 and $173,000 for 2010), the drop continues to lessen indicating home prices are stabilizing.

Tight lending standards continue to affect the market.

Debbie Rogers, RANM 2012 President, cites a NATIONAL ASSOCIATION OF REALTORS (NAR) survey that shows sales across the U.S. could be higher if the mortgage lending community returned to reasonably safe and sound lending standards.  “Nationally, sales this year are projected to rise 8 to 10 percent.  Although welcoming, this still represents a sub-par performance compared to a ‘normal’ market.  We need to return to the sound underwriting standards that existed before the abnormalities of the housing boom and bust cycle, and thoroughly re-examine current and impending regulatory rules that may cause excessively tight standards.”

Lawrence Yun, NAR chief economist, says there would be enormous benefits to the U.S. economy if mortgage lending conditions return to normal. “Sensible lending standards would permit 500,000 to 700,000 additional home sales in the coming year,” he says.  “The economic activity created through these additional home sales would add 250,000 to 350,000 jobs in related trades and services almost immediately, and without a cost impact.”

Steven Anaya, Executive Vice President of RANM, offers more support for the easing of lending standards.  “Homebuyers in recent years have been highly successful.  NAR research indicates that since 2009, the 12-month default rates have been abnormally low.  Fannie Mae default rates have averaged 0.2 percent while Freddie Mac’s averaged 0.1 percent, which are notable given higher unemployment in the timeframe.”

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 9/18/12.  Visit www.nmrealtor.com (housing trends) for county and board statistics.

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.

2201 Brothers Road Santa Fe, NM 87505 505-982-2442 800-224-2282 fax 505-983-8809 nmrealtor.com

July Sold Stats from Deming and Luna County

The following numbers are taken from sales reported to the Deming-Luna County MLS.

In July 2012 there were 6 residential properties sold for a total price of $565,400. The Average Price was $94,233 and the Median Price was $101,500 with an average Days On The Market of 260.

In July 2011 there were 8 residential properties sold for a total price of $524,150.  The Average Price was $65,519 and the Median Price was $$73,950 with an average Days On The Market of 158.

From Jan. 1 til July 31, 2012 there were 55 residential properties sold for a total price of $5,032,035.  The Average Price was $91,492 and the Median Price was $81,035 with an Average Days On The Market of 214.

From Jan 1 til July 31, 21011 there were 86 residential properties sold for a total price of $7,295,529.  The Average Price was $84,832 and the Median Price was $74,950 with an Average Days On The Market of 187.

It’s a tough market.  Make your property as desirable as possible in curb appeal, condition and price!  We seem to have a little more activity lately…here’s hoping things are on an uphill swing.