Is Southwest Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Southwest Albuquerque has remained a Seller's Market.
Housing Prices in Southwest Albuquerque, NM
How much do homes in Southwest Albuquerque, NM cost?
Median Sold Price
$272,000
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest Albuquerque was $272,000 in April 2024, up 6.3% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $205K | $226K | +10.2% |
2 Bedrooms | $213.5K | $242.5K | +13.6% |
3 Bedrooms | $255K | $269.1K | +5.6% |
4 Bedrooms | $290K | $300K | +3.4% |
5+ Bedrooms | $319K | $365K | +14.4% |
Summary: Southwest Albuquerque housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.2%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 5.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 14.4%.
Housing Supply in Southwest Albuquerque, NM
How many homes are available in Southwest Albuquerque, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
257 | 217 | -15.6% |
Summary: The Southwest Albuquerque real estate market had 217 homes for sale in April 2024, a 15.6% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 17 | 10 | -41.2% |
2 Bedrooms | 46 | 41 | -10.9% |
3 Bedrooms | 129 | 105 | -18.6% |
4 Bedrooms | 54 | 51 | -5.6% |
5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The Southwest Albuquerque housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 41.2%, 2 bedroom homes decreased by 10.9%, 3 bedroom homes decreased by 18.6%, 4 bedroom homes decreased by 5.6%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
79 | 71 | -10.1% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 71 homes were sold or pending in Southwest Albuquerque in April 2024, down by 10.1% month-over-month. Of the 71 sold homes, 39% were sold under asking, 32% were sold at asking, and 28% were sold over asking.
Days on Market for Southwest Albuquerque, NM
How long does it take to sell a home in Southwest Albuquerque, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
17 Days | 35 Days | +98.0% |
Summary: Homes in Southwest Albuquerque had an average of 35 days on market in Apr 2024, up by 98% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During April 2024, 71 homes were sold in Southwest Albuquerque; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.