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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bernalillo is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

Housing Prices in Bernalillo, NM

How much do homes in Bernalillo, NM cost?

Median Sold Price

$369,000

$215/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$3,500(-0.9%)

Key Takeaway

Homes in Bernalillo have sold for 0.9% less than they did a year ago.

Summary: The median home sold price in Bernalillo was $369,000 in March 2024, down 0.9% from last year, and the median price per square foot was $215.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 $231K$53K
-77.1%
2 $368K$385K
+4.6%
3 $355.7K$357K
0.4%
4 $456K$475K
+4.2%
5+ $2.1M$1.2M
-42.9%

Summary: Bernalillo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 77.1%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 42.9%.

Median Sold Price Compared To Nearby Cities

Rio Rancho
+4.5%
Placitas
+3.9%
Bernalillo
-0.9%

Housing Supply in Bernalillo, NM

How many homes are available in Bernalillo, NM?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
2523-8.0%

Summary: The Bernalillo real estate market had 23 homes for sale in March 2024, a 8.0% decrease compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 00
0.0%
2 42
-50.0%
3 1712
-29.4%
4 35
+66.7%
5+ 14
+300.0%

Summary: The Bernalillo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 29.4%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 300%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
74-42.9%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bernalillo, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 4 homes were sold or pending in Bernalillo in March 2024, down by 42.9% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.

Days on Market for Bernalillo, NM

How long does it take to sell a home in Bernalillo, NM?

Average Sale Time

Mar 2023Mar 2024CHANGE
41 Days41 Days+1.8%

Summary: Homes in Bernalillo had an average of 41 days on market in Mar 2024, up by 1.8% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During March 2024, 4 homes were sold in Bernalillo; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% 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 22 Days Ago

Newest Listings in Bernalillo, NM

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