Is West Bernalillo, 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, West Bernalillo has remained a Seller's Market.
Key Takeaway
West Bernalillo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Bernalillo, NM
How much do homes in West Bernalillo, NM cost?
Median Sold Price
$488,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in West Bernalillo have sold for 1.7% less than they did a year ago.
Summary: The median home sold price in West Bernalillo was $488,000 in March 2024, down 1.7% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $357.5K | $309.9K | -13.3% |
| 3 Bedrooms | $450K | $394.8K | -12.3% |
| 4 Bedrooms | $511.1K | $520K | +1.7% |
| 5+ Bedrooms | $590K | $749K | +26.9% |
Summary: West Bernalillo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.3%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 26.9%.
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% |
Housing Supply in West Bernalillo, NM
How many homes are available in West Bernalillo, NM?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 39 | -9.3% |
Summary: The West Bernalillo real estate market had 39 homes for sale in March 2024, a 9.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 18 | 19 | +5.6% |
| 4 Bedrooms | 19 | 14 | -26.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The West 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 remained the same, 3 bedroom homes increased by 5.6%, 4 bedroom homes decreased by 26.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Bernalillo, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in West Bernalillo in March 2024, the same as the previous month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for West Bernalillo, NM
How long does it take to sell a home in West Bernalillo, NM?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 63 Days | +9.1% |
Summary: Homes in West Bernalillo had an average of 63 days on market in Mar 2024, up by 9.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Bernalillo are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in West Bernalillo; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% 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.