Market Conditions Report
Albuquerque, NM 87111
Single-Family Homes
A Real-Time Look at the Real Estate Marketplace
Albuquerque, NM 87111
Tue Sep 27 2022
This week the median list price for Albuquerque, NM 87111 is $419,000 with the market action index hovering around 64. This is less than last month's market action index of 65. Inventory has increased to 57.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $419,000 | |
| Median Price of New Listings | $372,000 | |
| Per Square Foot | $201 | |
| Average Days on Market | 49 | |
| Median Days on Market | 28 | |
| Price Decreased | 40% | |
| Price Increased | 5% | |
| Relisted | 9% | |
| Inventory | 57 | |
| Median Rent | ||
| Market Action | 64 | |
| Strong Seller's Market | ||
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Market Segments
Each segment below represents approximately 25% of the market ordered by price.
| Median Price | Sq. Ft. | Lot Size | Beds | Bath | Age | New | Absorbed | DOM |
|---|---|---|---|---|---|---|---|---|
| $995,000 | 4,278 | 0.25 - 0.5 acre | 4 | 4 | 32 | 2 | 2 | 35 |
| $485,000 | 2,396 | 8,000 - 10,000 sqft | 4 | 3 | 43 | 3 | 1 | 35 |
| $378,500 | 2,001 | 6,500 - 8,000 sqft | 3 | 2 | 51 | 5 | 4 | 31 |
| $330,000 | 1,742 | 6,500 - 8,000 sqft | 3 | 2 | 40 | 4 | 2 | 14 |