Is Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Albuquerque has remained a Seller's Market.
Housing Prices in Albuquerque, NM
How much do homes in Albuquerque, NM cost?
Median Sold Price
$339,606
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Albuquerque was $339,606 in June 2024, up 6.1% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $180K | $205K | +13.9% |
2 Bedrooms | $248.1K | $269.2K | +8.5% |
3 Bedrooms | $304.9K | $323.6K | +6.1% |
4 Bedrooms | $397.8K | $419.3K | +5.4% |
5+ Bedrooms | $490K | $553.5K | +13.0% |
Summary: Albuquerque housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.9%, 2 bedroom homes increased by 8.5%, 3 bedroom homes increased by 6.1%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 13%.
Median Sold Price Compared To Nearby Cities
Los Ranchos de Albuquerque | $803.5K | $906.7K | +12.9% |
Albuquerque | $319.9K | $339.6K | +6.1% |
Rio Rancho | $341.4K | $352.4K | +3.2% |
Corrales | $685K | $704.2K | +2.8% |
West Bernalillo | $495K | $470K | -5.1% |
Housing Supply in Albuquerque, NM
How many homes are available in Albuquerque, NM?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
2,367 | 2,091 | -11.7% |
Summary: The Albuquerque real estate market had 2,091 homes for sale in June 2024, a 11.7% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 70 | 59 | -15.7% |
2 Bedrooms | 339 | 314 | -7.4% |
3 Bedrooms | 1,147 | 1,013 | -11.7% |
4 Bedrooms | 649 | 557 | -14.2% |
5+ Bedrooms | 162 | 148 | -8.6% |
Summary: The Albuquerque housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.7%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes decreased by 11.7%, 4 bedroom homes decreased by 14.2%, and 5+ bedroom homes decreased by 8.6%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
663 | 529 | -20.2% |
Asking Price vs. Sold Price
229 Homes Were Sold
Under Asking
148 Homes Were Sold
At Asking
152 Homes Were Sold
Over Asking
Summary: A total of 529 homes were sold or pending in Albuquerque in June 2024, down by 20.2% month-over-month. Of the 529 sold homes, 43% were sold under asking, 28% were sold at asking, and 29% were sold over asking.
Days on Market for Albuquerque, NM
How long does it take to sell a home in Albuquerque, NM?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
18 Days | 23 Days | +28.7% |
Summary: Homes in Albuquerque had an average of 23 days on market in Jun 2024, up by 28.7% compared to last year.
Breakdown of Home Sale Times
412 Homes Were Sold
Under 30 Days
88 Homes Were Sold
In 30 - 90 Days
29 Homes Were Sold
Over 90 Days
Summary: During June 2024, 529 homes were sold in Albuquerque; 78% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.