Albuquerque Housing Market at a Glance

• Homes for Sale: 1,584 homes are currently listed, showing a 13.5% increase from December 2023. With more inventory on the market, buyers are seeing more choices, but it’s still a competitive environment.
• New Listings: 617 new listings hit the market this December, with no change from last year. While new homes continue to appear, the pace has remained steady.
• Days on Market: Homes are now spending an average of 42 days on the market, up by 23.5% from December 2023. This increase in days on market might indicate that buyers are taking a bit more time to make decisions, but homes are still selling.
• Average Price: The average home price in Albuquerque is $413,595, reflecting an 8.7% increase from last year. Home values continue to rise, and sellers are seeing significant returns on their investments.
• Cost Per Square Foot: The average cost per square foot is $213, up by 6.0%. As home prices climb, so does the cost for each square foot of living space.
• Number of Sales: 784 homes were sold in December, a 9.5% increase from the previous year. Despite the increase in days on market, sales are still strong, signaling continued demand. 

What Does This Mean for Albuquerque Buyers and Sellers?

The December 2024 market in Albuquerque is showing solid growth in listings and home values, with prices continuing to rise. Sellers can take advantage of the increased inventory and strong demand, while buyers might find opportunities for negotiation as the days on market increase.

If you’re looking to buy or sell in Albuquerque, it’s crucial to stay informed about the market’s shifting dynamics. For a more detailed analysis, stay tuned for Tego Venturi’s full market update later this week. In the meantime, check out the latest trends and data on ABQ.RE/Trends.

Stay ahead of the game and make sure you’re prepared for what’s next in the Albuquerque housing market!