Is 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, Albuquerque has remained a Seller's Market.
Key Takeaway
Albuquerque is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albuquerque, NM
How much do homes in Albuquerque, NM cost?
Median Sold Price
$339,511
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Albuquerque have sold for 7% more than they did a year ago.
Summary: The median home sold price in Albuquerque was $339,511 in May 2024, up 7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $200K | +11.1% |
| 2 Bedrooms | $245K | $269.4K | +10.0% |
| 3 Bedrooms | $302.7K | $320.5K | +5.9% |
| 4 Bedrooms | $394.8K | $417.3K | +5.7% |
| 5+ Bedrooms | $490K | $568K | +15.9% |
Summary: Albuquerque housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 5.7%, and 5+ bedroom homes increased by 15.9%.
Median Sold Price Compared To Nearby Cities
| Los Ranchos de Albuquerque | $778K | $881.7K | +13.3% |
| Albuquerque | $317.1K | $339.5K | +7.0% |
| Corrales | $682.5K | $718.5K | +5.3% |
| Rio Rancho | $340.1K | $353.5K | +3.9% |
| West Bernalillo | $488.9K | $472.4K | -3.4% |
Housing Supply in Albuquerque, NM
How many homes are available in Albuquerque, NM?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,305 | 2,108 | -8.5% |
Summary: The Albuquerque real estate market had 2,108 homes for sale in May 2024, a 8.5% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 70 | 59 | -15.7% |
| 2 Bedrooms | 333 | 292 | -12.3% |
| 3 Bedrooms | 1,136 | 1,025 | -9.8% |
| 4 Bedrooms | 619 | 584 | -5.7% |
| 5+ Bedrooms | 147 | 148 | +0.7% |
Summary: The Albuquerque housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.7%, 2 bedroom homes decreased by 12.3%, 3 bedroom homes decreased by 9.8%, 4 bedroom homes decreased by 5.7%, and 5+ bedroom homes increased by 0.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 589 | 622 | +5.6% |
Asking Price vs. Sold Price
257 Homes Were Sold
Under Asking
164 Homes Were Sold
At Asking
201 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Albuquerque, you may be able to get a good deal. 41.3% of homes here sold below asking price last month.
Summary: A total of 622 homes were sold or pending in Albuquerque in May 2024, up by 5.6% month-over-month. Of the 622 sold homes, 41% were sold under asking, 26% were sold at asking, and 32% were sold over asking.
Days on Market for Albuquerque, NM
How long does it take to sell a home in Albuquerque, NM?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 25 Days | +48.2% |
Summary: Homes in Albuquerque had an average of 25 days on market in May 2024, up by 48.2% compared to last year.
Breakdown of Home Sale Times
485 Homes Were Sold
Under 30 Days
96 Homes Were Sold
In 30 - 90 Days
41 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albuquerque are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 622 homes were sold in Albuquerque; 78% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 7% 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.