June 17, 2016 – 1,795 sales during the month of May were reported to the REALTORS® Association of New Mexico (RANM). This number represents a 4% increase from the number of sales reported for May of 2015.
According to Patricia (Pat) Fell, 2016 RANM President, “The May median price of $190,000 is the highest May median New Mexico has seen since 2008 when the median price was $194,250. This increase in median price and the increase in sales numbers for May continues the steady growth RANM has seen over the past few years.” Median price means half the properties sold for less, half for more.
“An increase in sales numbers and an increase in median prices also results in an increase in total volume for May,” says M. Steven Anaya, RANM CEO. “May’s total volume of $409,775,313 is 3% higher than last year’s volume. The housing market continues to do its share in making a positive contribution to New Mexico’s economy.”