Is Albuquerque, NM a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Albuquerque is a seller's market

Buyer's
Market

Difference Since May 2021

Since last year, Albuquerque has remained a Seller's Market.

Key Takeaway

Albuquerque is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Albuquerque, NM cost?

Median Sold Price

$289,569

$171/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2021

+$41,539(+16.7%)

Key Takeaway

Homes in Albuquerque have sold for 16.7% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSMay 2021May 2022%
1 $143.5K$190.5K
+32.8%
2 $186.2K$221.6K
+19.0%
3 $235.3K$275K
+16.9%
4 $308.9K$359K
+16.2%
5+ $384K$425.3K
+10.8%

Median Sold Price Compared To Nearby Cities

Los Ranchos de Albuquerque
+32.4%
Rio Rancho
+22.3%
Corrales
+21.7%
Albuquerque
+16.7%
West Bernalillo
+15.2%

How many homes are available in Albuquerque, NM?

Number of Homes For Sale

Apr 2022May 2022%
2,0531,808-11.9%

Homes For Sale By Bedroom Count

# BEDSApr 2022May 2022%
1 4847
-2.1%
2 283243
-14.1%
3 1,095964
-12.0%
4 522467
-10.5%
5+ 10587
-17.1%

Number of Homes Sold

Apr 2022May 2022%
652671+2.9%

Asking Price vs. Sold Price

121 Homes Were Sold
Under Asking

127 Homes Were Sold
At Asking

422 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albuquerque, you could pay more than the asking price. 63% of homes here sold above asking price last month.

Average Sale Time

May 2021May 2022%
11 Days8 Days-29.2%

Breakdown of Home Sale Times

637 Homes Were Sold
Under 30 Days

27 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Albuquerque are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Albuquerque, NM

Albuquerque, NM has 1,808 homes for sale to choose from. In May 2022 in Albuquerque, NM there were 11.9% less homes for sale than in April 2022. The median list price of listings available in May 2022 was $289,569, while the average time on the real estate market was 8 days. Real estate listing prices changed between April 2022 and May 2022: prices of 1 bedroom properties increased by 32.8%, 2 bedrooms properties became 19% more expensive, 3 bedrooms properties prices increased by 16.9%, 4 bedrooms properties prices increased by 16.2%, 5 bedrooms properties became 10.8% more expensive. Volume of homes for sale in this real estate market have seen the following changes: 1 bedroom homes inventory decreased by 2.1%, the quantity of 2 bedrooms homes went down by 14.1%, volume of 3 bedrooms homes went down by 12%, number of 4 bedrooms homes decreased by 10.5%, number of 5 bedrooms homes decreased by 17.1%. While more than 422 listings in Albuquerque, NM in May 2022 were sold above asking price, there were more than 127 listings sold at asking price, and more than 121 were sold below.

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