Albuquerque Housing Market Update – April 2025 Data and What It Means

By Venturi Realty Group Welcome to our April 2025 market report from the Albuquerque Real Estate Podcast with Tego Venturi of the Venturi Realty Group at Real Broker. In this episode, Tego dives deep into last month’s numbers, comparing Albuquerque’s real estate trends to national data. What he uncovers is a steady, reliable market—just as Albuquerque is known for.

🏠 Home Prices in Albuquerque – Still Rising

According to Tego, the median sale price for single-family detached homes in April was $364,998—"okay, $365,000"—which reflects a 4.3% increase from one year ago. The average sale price? “$427,000, about a 4% increase again from April last year.” Price per square foot also confirms appreciation is happening: “213 is the median, 2% higher… the average price per square foot, it's 218. That's a 3.8% increase.” Tego summarizes: “We’re somewhere in that range—2, 4, 3, 4%. I think it's closer to probably 3–4% home price appreciation year-over-year.”

📉 Sales Volume: Flat but Active

In terms of total closed sales: “778 homes closed in April, which is basically equal with a year ago… 780.” Despite market conditions that feel “sluggish,” Tego notes that “there's still people out there shopping for homes and putting homes under contract.”

🔍 Buyer Activity – Fewer Showings, Stronger Intent

Tego reviewed showing activity across about 1,600–1,700 active listings. “That's the average number of times that properties are shown… right around five—5.3% down slightly from last year and down substantially from April of ‘22. It was 10.” Still, “893 homes went under contract in April, and that was about a 9% increase from a year ago.”

📈 Inventory Is Growing, But Still Below Pre-Pandemic

“We have about 1,600, 1,700 homes on the market,” which marks a “20 to 30% increase in the number of homes” over last year. However, Albuquerque is still below pre-COVID levels. “It's down about, I think, 25%… 1,685 using this particular measurement versus 2,311 in April of 2019.”

📍 Albuquerque vs. the Nation

Tego emphasizes that Albuquerque is still “one of the markets in the West that has not come back to pre-pandemic inventory levels.” In contrast, “Texas, Arizona, Colorado, definitely Florida… have seen inventory bounce back.” Meanwhile, “Chicago [is] down 62% from pre-pandemic levels.” When comparing market strength using Zillow’s heat index, Albuquerque remains strong. “This kind of peachy to red means that we're still a seller's market… and you can see Albuquerque is still considered a seller's market.”

💸 Mortgage Delinquencies – Historically Low

“Right now the delinquency rate in 2025… is 3.2%,” Tego says, referencing ICE Mortgage data. “We're still below historic levels for delinquencies.” New Mexico fares even better: “For New Mexico, it's 2.7%, so we're below the national average.” He puts it into perspective: “Only about 60% of people have a mortgage… 39% of people in our area are free and clear on their home. They have no mortgage at all.” Tego concludes, “The number of people in distress is very low. Nothing like we've seen in the past. And really it's still at very historically low levels.”

🧠 Final Thought

“If you ever see any of those charts… saying, oh, FHA mortgage delinquencies have spiked—yes, they have. But you gotta look at the value, not just the percentage.” He warns that many headlines are misleading if you don’t look deeper. As always, Tego and the Venturi Realty Group deliver data-backed analysis—not clickbait. Whether you're buying, selling, or just staying informed, their insights offer a reliable pulse on what’s really happening in the Albuquerque market.