Real-Time Real Estate Market Report

Gallup, NM

Single-Family Homes

Have the Market Insight Before You Buy or Sell



Gallup, NM

Thu Feb 06 2025
This week the median list price for Gallup, NM is $258,450 with the market action index hovering around 29. This is less than last month's market action index of 33. Inventory has decreased to 30. Click here to stay informed with the Gallup market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Market Narrative

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

Gallup, NM

Thu Feb 06 2025
This week the median list price for Gallup, NM is $258,450 with the market action index hovering around 29. This is less than last month's market action index of 33. Inventory has decreased to 30. Click here to stay informed with the Gallup market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Market Narrative

The Market Action Index has been trending lower for several weeks while prices have remained relatively stable. If inventory continues to grow relative to demand however, it is likely that we will see downward pressure on pricing.

Real-Time Market Profile

Never miss important changes in the Gallup market.
Median List Price $258,450
Median Price of New Listings $465,000
Per Square Foot $151
Average Days on Market 141
Median Days on Market 123
Price Decreased 40%
Price Increased 0%
Relisted 17%
Inventory 30
Median Rent
Market Action 29
Slight Buyer's Advantage

The market seems to have paused around this plateau. The Market Action Index is a good leading indicator for the durability of this trend.

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
$469,000 2,615 2.5 - 5 acres 3 3 51 2 1 35
$328,000 2,135 0.25 - 0.5 acre 4 2 46 0 0 161
$235,000 1,601 8,000 - 10,000 sqft 3 2 71 1 0 94
$130,000 1,366 6,500 - 8,000 sqft 3 1.5 65 0 1 154