Albuquerque Home Values Update: November 2024

The Albuquerque housing market continues to demonstrate steady growth, making it one of the top-performing real estate markets in the U.S. for the next year. According to the Zillow Home Value Index (ZHVI), the typical home value for the Albuquerque Metropolitan Statistical Area (MSA) reached $334,538 in November 2024. This represents a 3.23% increase year-over-year from November 2023 and a slight 0.23% decrease month-over-month from October 2024.

Additionally, the Zillow Home Value Forecast (ZHVF) predicts a 3.9% increase in home values in Albuquerque over the next year (November 2024 to November 2025). This strong forecast places Albuquerque in the top 10 markets for home value appreciation among the 100 largest U.S. metro areas.

Key Market Highlights: November 2024

• Current Home Values (ZHVI): The typical home value in the Albuquerque MSA is $334,538, reflecting 3.23% growth year-over-year, while slightly cooling seasonally with a 0.23% decline month-over-month.
• Zillow Home Value Forecast (ZHVF): Albuquerque is forecasted to see 3.9% home value appreciation over the next year, ranking among the top 10 metro areas for projected growth.
• Seasonal Trends: Seasonal cooling is reflected in the November data, following typical trends as demand softens during fall and winter.

Interactive Market Data: Albuquerque ZHVI

To get a more dynamic perspective of Albuquerque’s housing market trends, explore the Datawrapper chart below. This chart tracks the Zillow Home Value Index (ZHVI) over time, giving you an interactive way to visualize historical and current changes in home values.

Historical Home Value Trends

For a comprehensive look at Albuquerque’s market history, the heatmap below details the monthly and annual shifts in home values from 1999 to 2024, as measured by the ZHVI. This heatmap highlights Albuquerque’s cyclical market trends, showcasing the impact of economic events like the 2008 housing crisis and the post-pandemic surge.

Insights From the Heatmap

• Pandemic Boom: Albuquerque experienced significant home value growth during 2020-2022, with a record-breaking 13.29% year-over-year appreciation in 2021.
• Market Moderation in 2024: While home values continue to rise, the 2024 heatmap reflects a slower pace of appreciation than the pandemic years. Seasonal declines, like the 0.23% drop in November, are consistent with typical market patterns.
• Great Recession Impact (2008-2010): The Albuquerque market faced significant declines during the housing crisis, with home values falling by as much as 6.65% annually in 2008. The recovery since then has been consistent and steady.

Looking Ahead: Albuquerque’s Housing Market in 2025

Albuquerque is projected to experience a 3.9% appreciation in property values over the next year, indicating steady and moderate growth in 2025. The city's comparative affordability, consistent demand, and historically stable market make it an attractive destination for both buyers and investors. While seasonal trends will likely lead to short-term fluctuations, the long-term outlook remains positive.

Get the Latest Albuquerque Housing Market Insights

Whether you’re looking to buy, sell, or invest, understanding market trends is essential for making informed decisions. For expert advice and personalized insights, contact The Venturi Group of Real Broker Albuquerque at 505-448-8888. Let our team help you navigate Albuquerque’s dynamic housing market with confidence.

We also have Real-Time Albuquerque Housing Market Trends for a week look at the Albuquerque Real Estate Market Trends.