Is Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$335,689
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Albuquerque have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Albuquerque was $335,689 in March 2024, up 6.6% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187K | $205K | +9.6% |
| 2 Bedrooms | $245K | $265K | +8.2% |
| 3 Bedrooms | $300.7K | $319.5K | +6.2% |
| 4 Bedrooms | $392.7K | $417.1K | +6.2% |
| 5+ Bedrooms | $489.3K | $567K | +15.9% |
Summary: Albuquerque housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.6%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 6.2%, and 5+ bedroom homes increased by 15.9%.
Median Sold Price Compared To Nearby Cities
| Albuquerque | $314.9K | $335.6K | +6.6% |
| Rio Rancho | $337K | $352.3K | +4.5% |
| West Bernalillo | $496.3K | $488K | -1.7% |
| Corrales | $725K | $685K | -5.5% |
Housing Supply in Albuquerque, NM
How many homes are available in Albuquerque, NM?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,866 | 1,712 | -8.3% |
Summary: The Albuquerque real estate market had 1,712 homes for sale in March 2024, a 8.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 66 | 54 | -18.2% |
| 2 Bedrooms | 280 | 257 | -8.2% |
| 3 Bedrooms | 931 | 842 | -9.6% |
| 4 Bedrooms | 477 | 454 | -4.8% |
| 5+ Bedrooms | 112 | 105 | -6.3% |
Summary: The Albuquerque housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 18.2%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 469 | 479 | +2.1% |
Asking Price vs. Sold Price
217 Homes Were Sold
Under Asking
121 Homes Were Sold
At Asking
141 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albuquerque, you may be able to get a good deal. 45.3% of homes here sold below asking price last month.
Summary: A total of 479 homes were sold or pending in Albuquerque in March 2024, up by 2.1% month-over-month. Of the 479 sold homes, 45% were sold under asking, 25% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 23 Days | 27 Days | +14.4% |
Summary: Homes in Albuquerque had an average of 27 days on market in Mar 2024, up by 14.4% compared to last year.
Breakdown of Home Sale Times
361 Homes Were Sold
Under 30 Days
79 Homes Were Sold
In 30 - 90 Days
39 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albuquerque are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 479 homes were sold in Albuquerque; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.