Albuquerque New Mexico Housing Market Overview
Albuquerque’s real estate market presents unique opportunities for homeowners considering a sale. Currently, homes in the Duke City are selling for a median price of $340,000, indicating a modest 1.3% increase from 2024. This stability, coupled with prices remaining 21% below the national average, makes our market particularly appealing to buyers who are looking for value.
The local market dynamics reveal that homes typically receive two offers and spend about 36 days on the market before selling. Properties are currently selling for approximately 1% below list price, which suggests a balanced market that does not favor either buyers or sellers too heavily. While Albuquerque continues to uphold its reputation for affordability, with a cost of living 6% below the national average, sellers should be mindful of significant factors such as flood risk affecting 20% of properties and wildfire risk impacting 61% of properties when considering their timing and pricing strategies. The city’s increasing attractiveness, combined with its diverse property types, ranging from single-family homes to condos and townhouses, continues to draw both local and out-of-state buyers, creating consistent demand across various price points and neighborhoods.
