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

Housing Market Conditions



Gauge showing Albuquerque is a seller's market


Difference Since May 2023

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.

Housing Prices in Albuquerque, NM

How much do homes in Albuquerque, NM cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since May 2023


Key Takeaway

Homes in Albuquerque have sold for 7% more than they did a year ago.

Summary: The median home sold price in Albuquerque was $339,511 in May 2024, up 7% from last year, and the median price per square foot was $202.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $180K$200K
2 $245K$269.4K
3 $302.7K$320.5K
4 $394.8K$417.3K
5+ $490K$568K

Summary: Albuquerque housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 15.9%.

Median Sold Price Compared To Nearby Cities

Los Ranchos de Albuquerque
Rio Rancho
West Bernalillo

Housing Supply in Albuquerque, NM

How many homes are available in Albuquerque, NM?

Number of Homes For Sale

Apr 2024May 2024CHANGE

Summary: The Albuquerque real estate market had 2,108 homes for sale in May 2024, a 8.5% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 7059
2 333292
3 1,1361,025
4 619584
5+ 147148

Summary: The Albuquerque housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.7%, 2 bedroom homes decreased by 12.3%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 0.7%.

Number of Homes Sold

Apr 2024May 2024CHANGE

Asking Price vs. Sold Price

257 Homes Were Sold
Under Asking

164 Homes Were Sold
At Asking

201 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Albuquerque, you may be able to get a good deal. 41.3% of homes here sold below asking price last month.

Summary: A total of 622 homes were sold or pending in Albuquerque in May 2024, up by 5.6% month-over-month. Of the 622 sold homes, 41% were sold under asking, 26% were sold at asking, and 32% 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

May 2023May 2024CHANGE
17 Days25 Days+48.2%

Summary: Homes in Albuquerque had an average of 25 days on market in May 2024, up by 48.2% compared to last year.

Breakdown of Home Sale Times

485 Homes Were Sold
Under 30 Days

96 Homes Were Sold
In 30 - 90 Days

41 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.

Summary: During May 2024, 622 homes were sold in Albuquerque; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.

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

Report Updated 13 Days Ago

Newest Listings in Albuquerque, NM

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