Albuquerque Real Estate Roundup: Market Insights for August 2023


Welcome to the Albuquerque Real Estate Roundup for August 2023, where we provide you with a comprehensive update on the current state of the real estate market in the metro Albuquerque area. As members of the Venturi Group of Real Broker, we strive to empower both buyers and sellers with up-to-date information to make informed decisions. In this article, we’ll delve into the key factors driving the market, including market action index, inventory, average days on market, pricing trends, and more.

Market Action Index:

The market action index measures the balance between supply and demand in the real estate market. A higher index indicates a strong seller’s market, while a lower index suggests a buyer’s market. In August 2023, Albuquerque is still experiencing a seller’s market, indicating a higher demand for properties.


The number of homes currently on the market plays a significant role in market dynamics. Despite a slight increase compared to previous years, the active inventory in Albuquerque remains relatively low. This scarcity of available homes can be attributed to a decrease in new listings. With fewer homes being listed, the supply remains limited.

Average Days on Market:

When considering the average days a property spends on the market, Albuquerque falls within the middle ground. Compared to 2019 and 2018, which were considered normal years in terms of market conditions, the current pace is still relatively quick. Properties don’t languish on the market for an extended period, indicating a healthy level of ongoing demand.

Pricing Trends:

It’s essential to analyze pricing trends to gauge the market’s health. While median list prices have dropped slightly since the peak in July, this is a normal seasonal fluctuation. Moreover, this trend can be partly attributed to an increase in smaller homes being listed compared to larger properties.

To account for variations caused by property size, considering the price per square foot provides a more accurate measurement. Hovering around $208, the price per square foot has slightly decreased from the peak witnessed earlier in the year. These declines are typical for this time of year and are likely influenced by mortgage rate fluctuations.

Mortgage Rates and Market Impact:

The recent increase in mortgage rates over the past month may have contributed to a decline in buyer activity. With rates remaining stubbornly high, certain potential buyers might have been priced out of the market. This trend is regrettable, considering the significant number of eager buyers still looking to purchase properties.

Price Reductions:

Monitoring price reductions provides insight into market trends and potential shifts in seller sentiment. Fortunately, Albuquerque hasn’t experienced any significant fluctuations in price reductions, which indicates a relatively stable market. Sellers appear to be pricing their properties appropriately, minimizing the need for price adjustments.

Median List Price of New Listings:

Observing the median list price of new listings as properties come onto the market offers valuable insights into sellers’ expectations. Over the past month, there has been a slight downward trend in this category. This could be attributed to factors such as seasonality and market dynamics. However, sellers must remain diligent in setting realistic listing prices to attract potential buyers.


As we conclude our Albuquerque Real Estate Roundup for August 2023, it’s evident that the metro Albuquerque area continues to be a seller’s market. With limited inventory and steady demand, sellers have the upper hand in negotiations. However, it’s important to stay vigilant as market conditions can change.

Buyers are advised to act quickly when they find a property that meets their needs, given the relatively fast pace at which homes are being sold. Sellers, on the other hand, should price their properties competitively to attract potential buyers without overly undercutting their listing prices.

Remember, for all your real estate queries and assistance, the Venturi Group at Real Broker is here to help. Contact us at 505-448-8888. Stay tuned for our regular updates as the real estate market continues to evolve.