Top Real Estate Agents in Albuquerque, New Mexico

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2023 Albuquerque, New Mexico Housing Market Summary

Albuquerque, New Mexico started 2023 with a total of 547 single-family homes on the market, with a median home price of $399,900 and an average price per square foot of $209. By the end of the year, inventory had increased to 619 homes on the market (+13%), with a median home price of $419,000 (+4%) and an average price per square foot of $218 (+4%).

At the start of 2023, the median days on market (DOM) was 56 days – by the end of the year, median DOM had remained the same at 56 days.

Albuquerque started the year with 44% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 44% of Albuquerque homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Albuquerque started 2023 as a strong seller’s market, with an MAI score of 59; by the end of the year, the MAI had dropped to 37 – a slight seller’s advantage.

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