MARKET WATCH! In February 2017 the Median Sale Price for single-family, detached homes rose 6.6% from last year to $186,500 and the Average Sales Price increased 6.8% to $223,104. The number of new listings dropped a whopping 10.7% from this time last year and the overall inventory decreased 22.6% to a measly 2,849 listings. The Absorption Rate (number of months it would take to sell the current housing inventory) decreased 28.6% to give us a Seller’s market of 3 months (6 months is equilibrium). The Average Days on the Market was 66. (GAAR)
Shortly, The Sugar Team will be bringing you two new homes on the market, one in UNM Area-Netherwood Park, and the other nestled in the Foothills in High Desert. Stay tuned! We are very excited!
Linda and Sutter