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Well the procrastination monkey has made an appearance at our house. Martha and I are realtors in the Albuquerque Area and are at the time of this recording are home schooling 4 of our 6 children. the other two are adults and have surpassed my ability to help them with school many years ago.
We had a good system going, we thought, until we discovered our daughter is missing deadlines and staying up doing homework until midnight to finish assignments. Yes that is when we discovered the Procrastination Monkey is residing in our home. I always new him and I were friends, I have always preferred to do what was fun more so than what was 'Important'. This week's video Martha and I discuss procrastination, and it might not serve you well when buying a home.
So August is over. I'm a little sad. I love the heat. You know, it feels like a great big hug. Martha, don't you love the heat? You know what was interesting about August, you're complaining how hot it was. Do you know how many days we had over a hundred degrees in August 31 zero zero. I looked it up. Zero. So you know what else happened in August, which is probably our most exciting thing. Mark kids went back to school. Yeah, I know I say this every August, but the kids went back to school and all of them. It wasn't just like four or five other five. They're all of them. Even the baby kindergarten in school. So cool. The other thing that happened in August, which actually is becoming a little bit bigger deal now on August 13th was national left-hander day. I've actually seen little cards and stuff with that. So tall. You left-handers happy, happy late left-hander day. And a little shout out to my favorite left-hander, Jacob. We've got a little video of him right here. Well, you know your mom's also left-handed, right? Special shout out to my two favorite left-handers. Hi mom. Little video of Jacob right here. Thank you. Think I'm going to get in trouble or not. Yeah, so what was hot was the August real estate market, so let's get into that right now.
You talked about it. Yes, inventory keeps going down. So August we had 2,418 detached homes for sale, which is down over 30% from this time last year, which we had 3,483 homes. Okay. Pending sales pending sales are still going up. So we had 1,276 homes that went under contract in August, which is up from 1,115 this time last year. The other thing I like to look at is closed, right? We just want to make sure things are selling and that they're actually closing. So we had 1,241 home sell in August, which is up about 7% over last year, which was 1,157 so sales and everything is still steady. So average sales price for August. This is 258,279 which is up a little under 2% from August, 2018 which was 253,817 so in July we saw a lot bigger gain on the average sales price, but we're still at 7% appreciation for the year.
So the other thing that we like to look at is days on market, which for August was 34 days on market average, which this time last year was 38 days. So we still have a decline on days on market, which means houses are moving quickly. Okay. So nationally they're starting to see a little bit of a slow down and that's why we saw interest rates drop. They're trying to encourage that, uh, momentum to keep going. But we are nationally starting to see a bit of a slowdown. So Martha, what are you seeing in the million dollar market? Only three. Only three. What? How's this sold in August? Well that's still pretty good, isn't it? I guess so. Two in Albuquerque, one in Los Ranchos, and I still didn't take you to go look at one. Did I? No, I'm sorry. Maybe next month. Maybe I'll just go on my own. Maybe it will just go on your own. Thank you guys. I hope this was helpful and I'll see you later.
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