Is Northwest Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Northwest Albuquerque has remained a Seller's Market.
Housing Prices in Northwest Albuquerque, NM
How much do homes in Northwest Albuquerque, NM cost?
Median Sold Price
$354,999
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Northwest Albuquerque was $354,999 in April 2024, up 5.5% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $247.7K | -6.5% |
2 Bedrooms | $243K | $262.3K | +8.0% |
3 Bedrooms | $315K | $330K | +4.8% |
4 Bedrooms | $393.6K | $415K | +5.4% |
5+ Bedrooms | $465.1K | $500.6K | +7.6% |
Summary: Northwest Albuquerque housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 7.6%.
Housing Supply in Northwest Albuquerque, NM
How many homes are available in Northwest Albuquerque, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
711 | 697 | -2.0% |
Summary: The Northwest Albuquerque real estate market had 697 homes for sale in April 2024, a 2.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 9 | +200.0% |
2 Bedrooms | 76 | 64 | -15.8% |
3 Bedrooms | 350 | 345 | -1.4% |
4 Bedrooms | 220 | 213 | -3.2% |
5+ Bedrooms | 62 | 66 | +6.5% |
Summary: The Northwest Albuquerque housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 15.8%, 3 bedroom homes decreased by 1.4%, 4 bedroom homes decreased by 3.2%, and 5+ bedroom homes increased by 6.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
163 | 190 | +16.6% |
Asking Price vs. Sold Price
79 Homes Were Sold
Under Asking
56 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Summary: A total of 190 homes were sold or pending in Northwest Albuquerque in April 2024, up by 16.6% month-over-month. Of the 190 sold homes, 42% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Northwest Albuquerque, NM
How long does it take to sell a home in Northwest Albuquerque, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
22 Days | 29 Days | +29.7% |
Summary: Homes in Northwest Albuquerque had an average of 29 days on market in Apr 2024, up by 29.7% compared to last year.
Breakdown of Home Sale Times
137 Homes Were Sold
Under 30 Days
36 Homes Were Sold
In 30 - 90 Days
17 Homes Were Sold
Over 90 Days
Summary: During April 2024, 190 homes were sold in Northwest Albuquerque; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.