Market Update
Albuquerque
Q3 2023
Residential Property Snapshot
Single Family Homes & Condos | Q3 2023
Med. Sales Price
$350k
9% more than in
Q3 2022
Q3 2022
Avg. Days On Market
23
53% more than in
Q3 2022
Q3 2022
Closed Sales
1,551
19% fewer than in
Q3 2022
Q3 2022
Inventory
693
22% fewer than in
Q3 2022
Q3 2022
Sales Price vs. Closed Sales
- Single Family Homes
- Condos
| Sold Total | Median Close Price | Avg Close Price | |
|---|---|---|---|
| Q3 '19 | 2517 | $220k | $256k |
| Q3 '20 | 2707 | $250k | $293k |
| Q3 '21 | 2361 | $285k | $333k |
| Q3 '22 | 1922 | $320k | $363k |
| Q3 '23 | 1551 | $350k | $410k |
Closed
New
Inventory
Closed Sales by Price
- Single Family Homes
- Condos
| Closed Under $500k | 78.5% |
|---|---|
| Q3 '23 | 1218 |
| Q3 '22 | 1662 |
| 1YR CHANGE | -27% |
| Closed $500k - $1m | 18.9% |
| Q3 '23 | 293 |
| Q3 '22 | 229 |
| 1YR CHANGE | +28% |
| Closed $1m - $2m | 2.2% |
| Q3 '23 | 34 |
| Q3 '22 | 31 |
| 1YR CHANGE | +10% |
| Closed Over $2m | 0.4% |
| Q3 '23 | 6 |
| Q3 '22 | 0 |
| 1YR CHANGE | n/a |
Median Sales Price vs. Average Days on Market
- Single Family Homes
- Condos
| Median Close Price | Avg Days On Market | |
|---|---|---|
| Q3 '19 | $220k | 33 |
| Q3 '20 | $250k | 25 |
| Q3 '21 | $285k | 15 |
| Q3 '22 | $320k | 15 |
| Q3 '23 | $350k | 23 |
By Year
By Price
Market Data by Year
- Single Family Homes
- Condos
| Q3 2023
Rotate your device to view as table
'22 - '23
Inventory
Inventory represents the number of active properties on the market at the end of the quarter
-22%
New Listings
New Listings represents the number of properties listed during the quarter.
-20%
Months Supply of Inventory
Months' supply of inventory refers to the number of months it would take for the current inventory of homes on the market to sell given the current sales pace.
1%
Closed Sales
-19%
Average Days On Market
Average Days on Market represents the number of days that a property has been listed until a seller has accepted an offer and signed a contract.
53%