Albuquerque Real Estate Trends: February 2025 Market Update

Tego Venturi here from the Venturi Group of Real Broker with your February 2025 housing market update. I’ve been tracking this market for years, and I’ve got the latest data to share—perfect for buyers, sellers, or anyone curious about where things stand as of March 10, 2025. Let’s break it down.

Home Prices in Albuquerque: February 2025

In February 2025, the median sale price for single-family detached homes in Albuquerque reached $360,000, a 5.8% increase from February 2024. For attached homes (condos and townhomes), the median was $267,500, also up slightly, though the smaller sample size means less consistency. The average price per square foot for single-family homes hit $212, up 5% year-over-year, while attached homes saw a modest 0.5% rise. Over a 10-year span, appreciation remains steady—Albuquerque real estate is growing without the boom-bust drama.

Inventory Levels: More Homes, Still Tight

By the end of February 2025, there were 1,526 homes for sale in the Albuquerque metro area—a 28% jump from 1,193 in February 2024. Over the past 12 months, 11,396 new listings hit the market, up 7% from the prior year’s 10,645. But zoom out: that’s low compared to historical norms. In February 2019, we had 2,236 homes available; in February 2020, 1,736. Back in 2007’s bubble peak, it was 26,000. Today’s takeaway? More homes than the 2023 lows, but sellers aren’t listing as often—people are staying put.

Closed sales in February 2025 edged up 0.3% from last year—stable, not sizzling. Meanwhile, showings per listing for single-family homes dropped 13% to 5.7 per home, down from 6.5 a year ago, though up from late 2024’s 4.5 range. Pending sales tell a brighter story: 1,056 homes were under contract this week in March 2025, compared to 982 a year ago—a sign demand’s holding firm.

Mortgage Rates: March 2025 Snapshot

As of March 10, 2025, 30-year fixed mortgage rates for well-qualified buyers averaged 6.72%, per Mortgage News Daily. Rates shift daily, and with hundreds of mortgage programs available, local lenders can often beat online quotes. It’s not cheap money, but it’s workable for prepared buyers.

Market Dynamics: Seller’s Edge with a Twist

The Market Action Index for Albuquerque sits at 43 as of March 2025, signaling a seller’s market (30 is balanced). It’s up from 39 a month ago, trending stronger. Yet, 40% of active listings in February reduced prices, averaging a 4.26% cut (about $23,000), compared to 33-34% in 2023 and 2024. This isn’t a price drop—it’s sellers adjusting to pickier buyers. The median pending price for homes under contract is $375,000, up 5.6% from $354,950 in March 2024, with pending price per square foot at $214 versus $202 last year.

• For Buyers: New listings are trending up—137 per week on a 90-day average, the highest in four years. With 1,526 homes available, you’ve got options, but act fast and explore mortgage programs.
• For Sellers: It’s a seller’s market at 43 MAI, but 40% price reductions mean you can’t overreach. Price competitively—median sales price hit $360,000—and lean on local data for your neighborhood.

The Bottom Line

Albuquerque’s February 2025 market shows 5-6% price growth, a 28% inventory boost to 1,526 homes, and a seller’s market at 43 MAI, tempered by 40% price cuts. Buyers have more to choose from, sellers still hold leverage, and the next few months look steady with a $375,000 median pending price. Need more? I’m Tego Venturi with the Venturi Group of Real Broker—reach out at the RED “Contact Us Now” button on this page or call us at 505-448-8888. Let’s talk about your 2025 move!