Is Bernalillo County, 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, Bernalillo County has remained a Seller's Market.
Housing Prices in Bernalillo County, NM
How much do homes in Bernalillo County, NM cost?
Median Sold Price
$339,931
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Bernalillo County was $339,931 in March 2024, up 6.3% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $184.7K | $205K | +11.0% |
2 Bedrooms | $244.7K | $266.2K | +8.8% |
3 Bedrooms | $304.9K | $321.5K | +5.4% |
4 Bedrooms | $400K | $422.6K | +5.7% |
5+ Bedrooms | $494.9K | $573K | +15.8% |
Summary: Bernalillo County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Counties
Torrance County | $186K | $233K | +25.3% |
Bernalillo County | $319.9K | $339.9K | +6.3% |
Sandoval County | $349.9K | $371.7K | +6.2% |
Valencia County | $284.1K | $295K | +3.8% |
Santa Fe County | $575.3K | $588.8K | +2.4% |
Housing Supply in Bernalillo County, NM
How many homes are available in Bernalillo County, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,964 | 1,801 | -8.3% |
Summary: The Bernalillo County real estate market had 1,801 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 | 289 | 266 | -8.0% |
3 Bedrooms | 982 | 884 | -10.0% |
4 Bedrooms | 506 | 480 | -5.1% |
5+ Bedrooms | 121 | 117 | -3.3% |
Summary: The Bernalillo County 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%, 3 bedroom homes decreased by 10%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes decreased by 3.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
489 | 496 | +1.4% |
Asking Price vs. Sold Price
226 Homes Were Sold
Under Asking
127 Homes Were Sold
At Asking
143 Homes Were Sold
Over Asking
Summary: A total of 496 homes were sold or pending in Bernalillo County in March 2024, up by 1.4% month-over-month. Of the 496 sold homes, 46% were sold under asking, 26% were sold at asking, and 29% were sold over asking.
Days on Market for Bernalillo County, NM
How long does it take to sell a home in Bernalillo County, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
25 Days | 27 Days | +9.3% |
Summary: Homes in Bernalillo County had an average of 27 days on market in Mar 2024, up by 9.3% compared to last year.
Breakdown of Home Sale Times
372 Homes Were Sold
Under 30 Days
83 Homes Were Sold
In 30 - 90 Days
41 Homes Were Sold
Over 90 Days
Summary: During March 2024, 496 homes were sold in Bernalillo County; 75% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.