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Average Home Price in Albuquerque NM

Average Home Price in Albuquerque NM 2023 Market Statistics

What is the Average Home Price In Albuquerque NM?

Average Home Price in Albuquerque NMThe average home price in Albuquerque is $387,779 for October 2023 and the average home price in Albuquerque is $389,485 for the trailing twelve months  (TTM). Read more and view the historical average home price in Albuquerque NM. In addition, check out this page for the median home price in Albuquerque.

Average Home Price In Albuquerque NM 2023

Month Average Home Price In Albuquerque NM % YOY Change TTM Average Home Price % YOY Change
January $360,863 +6.9% $373,840 +12.4
February $361,336 +2.7 $374,572 +11.6
March $362,749 -.3 $374,714 +10.1
April $402,246 +3.8 $375,272 +8.7
May $396,857 +.5 $374,815 +6.7
June $408,171 +5.9 $376,598 +6.0
July $417,357 +10% $379,872 +5.8
August $421,231 +15.8 $385,537 +6.8
September $401,633 +8.7 $388,566 +6.6
October $387,779 +2.6 $389,485 +5.5
November
December

Average Home Price In Albuquerque NM  2022

Month Average Home Price In Albuquerque NM % YOY Change Average Home Price TTM % YOY Change
January $337,592 +12.9 $332,717
February $351,922 +15.1 $335,539
March $363,946 +20.1 $340,419
April $387,610 +19.2 $345,297
May $394,901 +21.0 $351,218
June $385,293 +12.7 $355,255
July $379,393 +12.0 $358,995
August $363,665 +5.6 $360,948
September $369,385 +10.9 $364,369
October $378,135 +15.9 $369,085
November $364,144 +4.3 $370,625
December $365,891 +2.8 $371,764

 

Are home prices dropping in Albuquerque?

No, Albuquerque house prices are increasing.  The average home price in Albuquerque for  October 2023 is $387,779 which is an increase of 2.6% on a year-over-year basis.

Average Home Price in Albuquerque NM by Year

The table below provides the average home prices in Albuquerque New Mexico since 2000.  This data is based on the sales prices of single-family detached homes sold in the city of Albuquerque for each year.  In contrast, many of the big real estate websites utilize the “list price” as their data source for average house prices in Albuquerque New Mexico.  Comparatively, our data on average Albuquerque real estate prices are the most accurate information available.

Year Average Home Price in Albuquerque NM Average Home Price in Albuquerque % YOY Change
2022 $371,791 +12.5
2021 $330,420 +11.95
2020 $295,149 +12.59
2019 $262,156 +7.90
2018 $242,968 +2.26
2017 $237,593 +3.50
2016 $229,574 +3.25
2015 $222,351 +1.71
2014 $218,611 +1.45
2013 $215,488 +4.91
2012 $205,401 +0.92
2011 $203,534 -6.74
2010 $218,234 +1.19
2009 $215,677 -7.63
2008 $233,490 -5.53
2007 $247,136 +7.9
2006 $229,044 +1.3
2005 $206,430 +10.6
2004 $186,644 +9.9
2003 $169,887 +3.8
2002 $163,690 +3.6
2001 $157,944 +1.6
2000 $155,527 +.05

Data For Average Albuquerque House Prices

You may be wondering why our average house prices in Albuquerque are different from other sources. Our data is from the Greater Albuquerque Association of Realtors and our average Albuquerque New Mexico housing prices are for the “sold price” of homes. In contrast, many sources utilize the “list price” of homes to determine the average home price. No doubt, our data is more accurate using the “sold” home prices than listing home prices. Also, our average Albuquerque house prices are for single-family “detached homes”. Thus, our data exclude townhomes, condos, and manufactured homes.

Our data do not include for sale by owner homes.

Furthermore, New Mexico is a nondisclosure state for the sales price of homes sold in New Mexico. In other words, it is very difficult for other sources to gather data on the sales price of a home in New Mexico. However, we have access to the sold prices through the Southwest Multiple Listing System (SWMLS).

 

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About Author

John Myers

John Myers began his real estate career in 2010 and is a top-performing real estate agent. He holds prestigious designations and certifications, including Certified Residential Specialist (CRS), Seller Representative Specialist Designation (SRS), Accredited Buyer’s Representative Designation (ABR), Pricing Strategy Adviser Certification (PSA), Real Estate Investing Certification, Luxury Home Certification (LHC), Short Sale and Foreclosure Resource Certification (SFR), Certified Distressed Property Expert Designation (CDPE), and Certified Investor Agent Specialist Designation (CIAS). These designations & certifications demonstrate his expertise in representing buyers, sellers, and real estate investors.

He also holds a Master’s in Finance from Webster University and a Bachelor of Science in Electrical Engineering from New Mexico State University.

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Posted in: Albuquerque Housing Market Statistics | Real Estate Market, Albuquerque NM, Blog, Market Statistics Tagged: albuquerque home prices, albuquerque real estate market statistics, average home price, average home price Albuquerque, real estate market statistics

About John Myers

John Myers began his real estate career in 2010 and is a top-performing real estate agent. He holds prestigious designations and certifications, including Certified Residential Specialist (CRS), Seller Representative Specialist Designation (SRS), Accredited Buyer's Representative Designation (ABR), Pricing Strategy Adviser Certification (PSA), Real Estate Investing Certification, Luxury Home Certification (LHC), Short Sale and Foreclosure Resource Certification (SFR), Certified Distressed Property Expert Designation (CDPE), and Certified Investor Agent Specialist Designation (CIAS). These designations & certifications demonstrate his expertise in representing buyers, sellers, and real estate investors.

He also holds a Master's in Finance from Webster University and a Bachelor of Science in Electrical Engineering from New Mexico State University.

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