Real-Time Real Estate Market Report
Albuquerque, NM 87120
Single-Family Homes
Have the Market Insight Before You Buy or Sell
Albuquerque, NM 87120
Fri Jul 26 2024
This week the median list price for Albuquerque, NM 87120 is $467,450 with the market action index hovering around 45. This is less than last month's market action index of 46. Inventory has decreased to 116.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Market conditions have recently resumed tightening. As the rate of home sales increases relative to the number of homes on the market, the Market Action Index increases. Even though the MAI is technically in the Seller’s zone, prices have not yet started climbing along with the changes in Market Action, but expect them to do so if the trend continues.
Real-Time Market Profile
| Median List Price | $467,450 | |
| Median Price of New Listings | $349,500 | |
| Per Square Foot | $212 | |
| Average Days on Market | 68 | |
| Median Days on Market | 42 | |
| Price Decreased | 53% | |
| Price Increased | 1% | |
| Relisted | 9% | |
| Inventory | 116 | |
| Median Rent | ||
| Market Action | 45 | |
| Strong Seller's Market | ||
Prices in this zip code have been on a downward trend in the last few weeks and this week, while essentially flat, doesn’t break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $659,900 | 2,796 | 8,000 - 10,000 sqft | 4 | 3 | 3 | 2 | 5 | 56 |
| $499,900 | 2,449 | 6,500 - 8,000 sqft | 4 | 3 | 8 | 2 | 3 | 49 |
| $405,000 | 1,968 | 4,500 - 6,500 sqft | 3 | 3 | 19 | 4 | 5 | 42 |
| $339,000 | 1,586 | 4,500 - 6,500 sqft | 3 | 2 | 27 | 12 | 9 | 14 |