The Albuquerque real estate market continues to evolve, and as we step into 2025, it's crucial to understand the latest trends shaping the industry. The Greater Albuquerque Association of Realtors (GAAR) has recently released its most up-to-date report, providing valuable insights into the local housing market. Whether you're a buyer, seller, or real estate professional, these trends will help you make informed decisions.

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Key Takeaways from the Latest GAAR Report

Home Prices: A Mixed Landscape

The GAAR report reveals Albuquerque's housing market is experiencing a dynamic shift. Median home prices have seen moderate growth compared to the same period in 2024. Specifically:

  • Median Sale Price: In December 2024, the median sale price was $340,000, a 3% increase from the previous year.

  • Average Sale Price: The average sale price rose to $375,000, showcasing the market's resilience.

While prices continue to climb, the rate of increase has slowed compared to the double-digit growth seen in previous years. This shift points to a stabilizing market, offering opportunities for buyers and sellers alike.

A graph and chart representing the Median Sales Price from Greater Albuquerque Association of Realtors.

Inventory Levels: Slowly Recovering

One of the most significant challenges in Albuquerque's housing market has been the lack of inventory. However, the latest GAAR report indicates that inventory levels are starting to recover:

  • Active Listings: December 2024 saw a 12% increase in active listings compared to December 2023.

  • Months of Supply: The market now has 1.8 months of supply, up from 1.5 months in late 2023.

This gradual improvement provides hope for buyers who have struggled with limited options in recent years.

Days on Market: Homes Selling Quickly

Despite rising inventory levels, homes in Albuquerque are still selling at a brisk pace. The average days on market (DOM) for December 2024 was 21 days, compared to 19 days in December 2023. This slight increase suggests a more balanced market but still favors sellers overall.

What These Trends Mean for Buyers and Sellers in 2025

For Buyers

The Albuquerque real estate market remains competitive, but improving inventory levels offer more choices. If you're planning to buy in 2025:

  • Be Prepared: Get pre-approved for a mortgage to strengthen your offer.

  • Act Quickly: Homes are still selling fast, so be ready to make decisions.

  • Work with a Realtor: A local expert can help you navigate the market and find the best deals.

For Sellers

If you're considering selling your home, 2025 offers a promising environment:

  • High Demand: Buyers are actively searching for homes, keeping demand strong.

  • Competitive Pricing: While prices are stabilizing, setting a competitive price can attract multiple offers.

  • Marketing Matters: Partner with a real estate professional to showcase your home's best features and reach a wide audience.

A graph and chart representation of percent of list priced received present by GAAR.

Broader Economic Factors Impacting Albuquerque Real Estate

The local housing market doesn't exist in a vacuum. Broader economic trends are also playing a role:

Interest Rates

Mortgage rates remain a key factor influencing buyer behavior. While rates have fluctuated over the past year, they are expected to stabilize in 2025, making homeownership more accessible for many.

Population Growth

The Albuquerque real estate market attracts new residents drawn by its affordability, vibrant culture, and quality of life. This population growth supports housing demand and contributes to the market's overall health.

Looking Ahead: Predictions for 2025

Based on the latest data and expert analysis, here are some predictions for Albuquerque's real estate market in 2025:

  • Steady Price Growth: Expect modest increases in home prices as the market stabilizes.

  • Improved Inventory: Builders and sellers will likely bring more homes to the market, easing inventory constraints.

  • Sustained Demand: Albuquerque's appeal as a desirable place to live will keep demand strong.

How to Stay Informed

Staying updated on the latest real estate trends is essential, whether you're buying, selling, or simply curious about the market. The GAAR report is an invaluable resource, providing accurate and timely data to guide your decisions.

For more insights and personalized advice, don't hesitate to contact a local real estate professional. Their expertise can help you navigate Albuquerque's dynamic market with confidence.

Eager to discover your real estate opportunities in 2025? Reach out to our team today to begin your adventure in Albuquerque's property market.