Albuquerque Real Estate Market
As a real estate professional, I am always asked, “How is the Albuquerque real estate market doing?”. Well, there is no answer to that question. I always ask if you are buying a home or if you want to sell home. When the market is good for home buyers also called a buyer’s market, it is usually bad for sellers. If the real estate market is good for sellers called a seller’s market, the market is usually not good for buyers. There are times when the real estate market does not favor home buyers or home sellers.
The Albuquerque real estate market is cyclical, home prices and the number of homes sold increase in the warmer months and decline in the colder months. This means it is best to buy a home in the cold months and to sell your home in the warm months.
Below you will find long-term and short-term graphs of key real estate market statistics I feel are important to gauge the Albuquerque real estate market. Please note this data is for single-family homes, this data does not include townhomes or condominiums.
Albuquerque NM Average Home Price Past 10 Years
This graph is the average home price over the past ten years. Average home prices are calculated by adding up the sales price of all homes sold in the past twelve months and dividing it by the number of homes sold. The average sale price does not equal appreciation. Increasing home prices favor sellers, and declining home prices favor home buyers.
Albuquerque NM Average Home Price Past 12 Months
This graph is the average home price over the past 12 months. Average home prices are calculated by adding up the sales price of all homes sold in the past 30 days and dividing it by the number of homes sold. The average sale price does not equal appreciation. Increasing real estate prices favor home sellers, and declining prices favor buyers.
Albuquerque NM Median Home Price Past 10 Years
The median price of homes is the price that 50% of the homes sold above this price and 50% of the homes sold below this price. Each data point on this graph is sales over the past 12 months.
Albuquerque NM Median Home Price Past 12 Months
The median price of homes is the price that 50% of the homes sold above this price and 50% of the homes sold below this price. Each data point on this graph is sales over the past 30 days.
Albuquerque NM Homes Sold Past 12 Months
This graph is the number of homes sold, each data point is for the number of homes sold in the previous 30 days.
Albuquerque NM Supply Of Homes Past 10 Years
This graph shows the supply of homes on the market for the past 10 years, each data point is the supply for the past 12 months. The supply of homes here is measured in months of inventory. This calculation assumes no new homes come on the market and sales continue at the existing pace. This calculation is the number of months of supply. Lower supply favors home sellers, larger supply favors buyers.
Albuquerque NM Supply Of Homes Past 12 Months
This graph shows the supply of homes for the past 12 months, each data point is the supply for the past 30 days.
Call Myers & Myers real estate at 505 401-7500 if you are buying or selling a home in the Albuquerque Metro area.
