The Los Alamos Association of REALTORS® (LAAR) reports that the median price of Single Family Home salesjumped by 18 percent when compared to the 4th Quarter of 2015 or $270,000 to $320,000 in this quarter.
Single Family home sales moved from 57 in the 4th Quarter of 2015 to 63 this quarter. Single Family home sales volumes also rose sharply from $16.7M in 2015 to $20.8M for the 4th Quarter of 2016 reflecting the increase in home prices. Condo and Townhome sales also rose in the 4th Quarter of 2016 to 21 units sold compared to 16 units in 2015.
During this same period, the median price of Condos/Townhomes dipped from $203,250 in the 4th Quarter of 2015 to $197,000 in 2016.
“The Los Alamos single family housing market continues to strengthen with home prices rising by a nice margin this quarter,” stated David Horpedahl, president of the Los Alamos Association of REALTORS®.
The median sales price is determined from only those sales listed on the Santa Fe Association of REALTORS® Multiple Listing Service, which does not include every sale in the area but has been used historically to track trends in the home buying market. The median is the price of a property that falls in the middle of the total number of properties sold during the quarter.