LAAR News:

Single family home and condo/townhome sales combined increased by 8 percent when comparing the second quarter of 2014 to the same quarter in 2013, according to figures released by the Los Alamos Association of REALTORS®.

During this same period, the median price of single family homes dropped by 9 percent or from $277,525 in the second quarter of 2013 to $255,000 in the second quarter of 2014.

Condo and townhome sales also noted a dip in prices from $215,000 in the second quarter of 2013 to $155,000 during the same quarter in 2014. The overall volume of single family home sales remained nearly consistent at $13.1 million in the second quarter of 2013 compared to $12.9 million in the most recent quarter.

“While sales are modestly up in Los Alamos, there is a downward pressure on prices,” said Anna Caspersen, president of the Los Alamos Association of REALTORS®. “Condos and Townhomes noted a more precipitous drop of about 39 percent in price this quarter compared to the same in 2013 with sales also picking up.” 

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.