October 2015 Median Price Up Over 6% from 2014 Median

Category: Non-Local News Releases Non-Local News Releases
Published: 24 November 2015 24 November 2015

October 2015 sales number are down slightly from those reported to the REALTORS Association of New Mexico (RANM) in October 2014. However, the median price is up over 6%. (Median price indicates half the properties sold for more and half for less.)

Oct. 2014 Unit Sales: 1575

Oct. 2014 Median: $176,000

Oct. 2015 Unit Sales: 1569

Oct. 2015 Median: $187,275

"The strong October showing in increased median prices means New Mexico's housing market remains strong as the volume for October 2015 is nearly 2% higher than that reported in 2014," says Baro Shalizi, 2015 RANM President. "The reported 2015 October volume is $362,308,141. And, while October 2015 sales numbers may be down slightly from 2014, year to date, the state-wide sales number is 10% higher than that reported last year for the first ten months of the year "

Year to Date 2014 Unit Sales: 14,373

Year to Date 2014 Median: $175,000

Year to Date 2015 Unit Sales: 15,816

Year to Date 2015 Median: $180,000

"Higher median prices are great news for sellers, however, buyers, especially first-time buyers, are finding it more difficult to save enough for a down payment and qualify for a loan as home prices rise," says M. Steven Anaya, RANM CEO. "According to the National Association of REALTORS Profile of Buyers and Sellers, this is the third year in a row that the share of first time buyers has declined."

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 11/23/15. Visit www.nmrealtor.com (housing trends) for county statistics.

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