Is Northwest Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northwest Albuquerque has remained a Seller's Market.
Key Takeaway
Northwest Albuquerque is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest Albuquerque, NM
How much do homes in Northwest Albuquerque, NM cost?
Median Sold Price
$357,990
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest Albuquerque have sold for 7% more than they did a year ago.
Summary: The median home sold price in Northwest Albuquerque was $357,990 in May 2024, up 7% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $265K | $250.5K | -5.5% |
| 2 Bedrooms | $245K | $265K | +8.2% |
| 3 Bedrooms | $314.9K | $333.8K | +6.0% |
| 4 Bedrooms | $390.1K | $415.2K | +6.4% |
| 5+ Bedrooms | $470K | $505K | +7.4% |
Summary: Northwest Albuquerque housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 7.4%.
Housing Supply in Northwest Albuquerque, NM
How many homes are available in Northwest Albuquerque, NM?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 802 | 722 | -10.0% |
Summary: The Northwest Albuquerque real estate market had 722 homes for sale in May 2024, a 10.0% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 70 | 60 | -14.3% |
| 3 Bedrooms | 406 | 371 | -8.6% |
| 4 Bedrooms | 240 | 208 | -13.3% |
| 5+ Bedrooms | 78 | 77 | -1.3% |
Summary: The Northwest Albuquerque housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 8.6%, 4 bedroom homes decreased by 13.3%, and 5+ bedroom homes decreased by 1.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 203 | 213 | +4.9% |
Asking Price vs. Sold Price
97 Homes Were Sold
Under Asking
61 Homes Were Sold
At Asking
55 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Albuquerque, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 213 homes were sold or pending in Northwest Albuquerque in May 2024, up by 4.9% month-over-month. Of the 213 sold homes, 46% were sold under asking, 29% were sold at asking, and 26% were sold over asking.
Days on Market for Northwest Albuquerque, NM
How long does it take to sell a home in Northwest Albuquerque, NM?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 28 Days | +34.8% |
Summary: Homes in Northwest Albuquerque had an average of 28 days on market in May 2024, up by 34.8% compared to last year.
Breakdown of Home Sale Times
157 Homes Were Sold
Under 30 Days
35 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Albuquerque are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 213 homes were sold in Northwest Albuquerque; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 10% 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.