📉 Albuquerque Real Estate Market Update – May 2025: Prices Dip Slightly, But Demand Holds Steady

By Tego Venturi | Venturi Realty Group

 

What Do The Numbers Say?

As we roll into June, the Albuquerque housing market continues to show signs of normalization—but don’t let the national headlines fool you. While some parts of the country are experiencing bloated inventory and sluggish sales, Albuquerque is following its own, more stable trajectory. Tego Venturi of the Venturi Group at Real Broker broke down the latest numbers from May 2025, revealing a market that’s cooling off from pandemic-era highs but still favoring sellers—especially in the sweet-spot price ranges.

---

🏘 Inventory Is Up… But Still Below Normal

Albuquerque’s housing inventory increased to an average of 2,031 active listings in May, about 20% more than May 2024. However, that’s still 25% fewer homes on the market than the same time in 2019, the last “normal” year before the pandemic distorted everything. When it comes to supply, the 2.4 months of inventory still leans strongly toward a seller’s market. A balanced market typically falls around 5 months—but in today's post-pandemic landscape, even that benchmark may be outdated. High-demand homes are still attracting attention, and even occasional multiple-offer scenarios, but those bidding wars are no longer the norm.

---

📉 Demand Slows but Remains Consistent

Closed sales were down 7.5% year-over-year, with 889 homes sold in May. While that’s the highest monthly total in 2025 so far, it still reflects a more tempered pace than what’s typical for this time of year. More telling is the pending sales data: with 914 homes going under contract, May activity was virtually flat compared to last year. And while weekly pendings plateaued through April and May, they’re still holding steady—a sign that demand hasn’t disappeared, it’s just more selective.

---

⏳ Homes Are Taking Longer to Sell

The average days on market (DOM) hit 35 days, a 30% increase over last year, but nearly identical to May 2019 (34 days). The median DOM doubled year-over-year, from 7 to 14 days, reflecting a more patient buyer pool. Interestingly, homes under $250,000 sat longer—averaging 39 days on market. That price point often reflects homes needing updates or repairs, so longer timelines there may be tied more to condition than affordability.

---

💰 Prices: A Nuanced Picture

The median price for single-family detached homes came in at $365,000, down nearly 2% from a year ago. But there’s a catch: the average size of homes sold was 6% smaller than last year (1,777 sq ft vs. 1,892 sq ft). That shift in size partly explains the dip in median price. To get a clearer picture, we turn to price per square foot, which rose to $216 median / $218 average, both up about 3.3% year-over-year. This shows modest but steady appreciation, even as median price appears to soften.

---

📊 Price Range Matters – A Lot

Market dynamics vary sharply depending on price point:

• 🏠 $250K–$400K: Fast-moving with just 1.7 months of inventory
• 🏡 $600K+: Slower with 4.6 months of inventory (approaching a balanced market)

This variation makes pricing strategy more important than ever for sellers.

---

🔮 Forward-Looking Indicators: Plateau or Pause?

Using weekly tracking data, the number of pending listings in recent weeks has flattened, not growing as we’d typically expect heading into summer. While not a drop, this lack of momentum suggests buyers are cautious, possibly due to interest rates, affordability, or simply fatigue from a volatile few years. Even so, median pending prices ticked upward to $379,500, about 2% higher than last year. And price per square foot pending sits at $217, also slightly up. The takeaway: homes are still appreciating—just more modestly than before.

---

📽️ Watch the Full May 2025 Market Update

▶️ Click here to watch the full video with Tego Venturi

---

📌 The Bottom Line

Albuquerque’s market is transitioning—not crashing. Yes, homes are taking longer to sell, and buyers are more measured. But prices are stable, inventory is growing but still tight, and the market remains in seller-favored territory, especially in the mid-range price bands. If you're thinking of buying or selling, it’s all about strategy, condition, and price point. Reach out to the Venturi Group for expert guidance tailored to today’s market realities.