Albuquerque, New Mexico started 2024 with a total of 584 single-family homes on the market, with a median home price of $418,500 and an average price per square foot of $218.17. By the end of the year, inventory had increased to 807 homes on the market (+38%), with a median home price of $394,900 (-6%), and an average price per square foot of $225 (+3%).
At the start of 2024, the median days on market (DOM) was 56 days – by the end of the year, median DOM had increased to 63 days.
Albuquerque, New Mexico started the year with 43.66% 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 48.08% of homes for sale had taken a price cut.
