Housing sales in New Mexico slowed in the early months of 2019, but still look strong, according to an official with New Mexico Association of Realtors.
Paul Wilson, 2019 NMAR President, said that 1,981 sales were reported to the association in March, bringing the year-to-date total number of sales to 4,981.
"The March numbers continue the trend for 2019 of a less robust market this year than the records setting numbers seen in 2018, but a market that remains ahead of recent year activities since 2008," he said.
The 2019 year-to-date sales number of 4,981 is about 19% less than the year-to-date number last year of 6,191, however is just over 16% above the highest previous year-to-date number, January through March, of 4,293 in 2017, according to data from the association.
'Median prices remain near the $200,000 mark with March median reported at $205,000 and year-to-date median at $200,000, NMAR Chief Executive Officer M. Steven Anaya reported.
Median price means half the properties sold for more; half for less. March's average "days on market" was 79.
A monthly breakdown shows sales for January through March maintained a significant lead over all prior years except 2018. The numbers increased each year with 2017 figures showing 1,279 sales in January, 1,254 in February and 1,760 in March compared to 2019 with 1,491 in January, 1,509 in February and 1,981 in March. The 2018 numbers for those three months were 1,509, 1,959 and 2,723, respectively.
The trends and numbers reported are only a snapshot of market activity. If a person is interested in buying or selling, association officials urge them to consult a Realtor familiar with the market area to provide information on specific trends in a neighborhood.
