2015 Housing Market On Pace for a Record Year

A great June for home sales means the 2015 year-to-date reported sales of 8,806 is the highest number reported since 2008 when the REALTORS Association of New Mexico (RANM) started keeping market statistics. 1,850 sales were reported in June 2015, a 20% increase over the number of sales reported in June 2014.

January-June 2008
Number of Sales: 7,535

January-June 2009
Number of Sales: 6,009

January-June 2010
Number of Sales 7,065

January-June 2011
Number of Sales: 6,390

January-June 2012
Number of Sales: 7,013

January-June 2013
Number of Sales: 7,951

January-June 2014
Number of Sales: 8.051

January-June 2015
Number of Sales: 8.806

€œEighteen New Mexico counties reported an increase in 2015 year-to-date sales over 2014 January through June figures. Higher rents, a stronger job market, and gradually rising interest rates are coaxing many first-time home buyers into becoming home owners, € says Baro Shalizi, 2015 RANM President. €œEven though statewide trends are rosy, there are counties where economic conditions mean the housing market is not as robust as in other counties. Real estate is after all, local. €

During June 2015, seventeen New Mexico counties reported an increase in sales over June 2014. Torrance, Los Alamos, Lea, Lincoln, Taos, and San Miguel counties all reported over a 40% increase in sales comparing June 2014 to June 2015. Statewide, June median prices are also higher than those reported in June 2014. Median price indicates half the properties sold for more and half for less.

June 2014
Number of Sales: 1,542
Median Price: $179,092

June 2015
Number of Sales: 1,850
Median Price: $189,000

€œWhile all these numbers are good news for the housing market, housing affordability numbers have dropped slightly from a year ago, € says M. Steven Anaya, RANM CEO. €œA continued limited number of homes for sale mixed with a higher buyer demand and growing home prices continue to chip away at the NATIONAL ASSOCIATION OF REALTORS € housing affordability index. Lower mortgage rates are not completely offsetting the increase in home 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.

Silver City Regional Association of REALTORS, Inc. reports:
Residential Data mid-way through 2015:

332 homes were listed Jan - June
736 total active residential listings
$204,552 average original list price of these homes
77 average days-on-the-market homes listed

160 listings have been under-contract

128 homes have sold
39% of the homes listed have sold
$157,129 average sold price
216 average days-on-the-market of solds
93% average list to sales price of homes at sale