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Wednesday, January 19, 2005 December 2004 December 2004 was the eleventh consecutive month in which the number of sales reported by SWMLS for the month is the highest number ever reported for home sales in the Albuquerque area in that month! There were 916 sales reported for December 2004. The number of sales rose slightly from November to December (from 900 to 916), a rise of 1.78 percent. The increase in the number of sales from December 2003 (731 sales) compared to December 2004 was 25.31 percent! The number of sales reported from the beginning of the year (12,263) was 10.25 percent higher than the year-end number in 2003 (10,216). The average interest rate for a 30-year fixed-rate mortgage in New Mexico was 3.37 percent lower in December 2004 than it was in December 2003 (5.37 percent cf. 5.54 percent in December 2003). The average and median prices for R1 homes continued to rise compared to the corresponding values in December 2003. The data are presented below. Class R1, average price: $167,578 in December 2003$189,803 in December 2004, an increase of 13.26 percentClass R1, median price:$141,000 in December 2003 $150,000 in December 2004, an increase of 6.38 percentClass R2, average price:$113,577 in December 2003$112,621 in December 2004, a decrease of -0.84 percent Class R2, median price:$98,250 in December 2003$110,500 in December 2004, an increase of 12.47 percent. For the full report from SWMLS, click on December statistics.Posted at 02:48 PM Fourth Quarter Statistics The number of sales reported in the Albuquerque area for the fourth quarter of 2004 (2,817) was remarkably high for this time of year, even exceeding the 2,274 sales reported during the fourth quarter of 2003! This was a gain of 23.88 percent over the fourth-quarter sales for 2003, which was a record-breaking number for the fourth quarter! For the full report from SWMLS, click on fourth quarter 2004 report. This report includes a graph showing the sales overview of sold and closed single-family homes in the years 2001, 2002, 2003, and 2004. Posted at 02:45 PM