• Median Albuquerque home prices held steady in October

  • New listings in Albuquerque rose by 2.9%
  • Closed sales fell by 4.1% to 763 homes sold
  • Pending sales rose 8.7% to 786 homes in escrow
  • Affordability improved slightly to 85
  • Total inventory rose 8.7% to 2,131 available homes

Are Albuquerque Home Prices in a Correction?

There’s been a lot in the news about home prices declining or correcting. In some areas of the country that’s the case. Here in Albuquerque, while the market is not particularly hot, it’s not in any sort of decline at this point. The median price of a metro area home this October was $369,900, while last October it was $370,000. That’s essentially a push.

For the year through October, the median price of a home was $370,000, which is a slight increase over the same period last year, which saw a $360,000 median. That is a slight increase of 2.8%. Fair to say October was a slow month. The federal shutdown started on October 1st, but keep in mind closed sales in October were, for the most part sales that were inked in August and September.

Closed sales fell 4.1% to 763 homes sold this October from last October’s 796 sales. I’d hazard the looming shutdown over those two months may have had a chilling effect on the market, but it’s hard to be sure of that.

Both new listings and pending sales increased this October. 973 homes came on market compared to 946 last October, a modest 2.9% rise. Pendings rose from 723 in October 2024 to 763 this October, a more robust 8.7% increase. It’ll be interesting to see how that shakes out for sale prices in November and December, when most of those pendings will close.

You can read or download the full October report here.

Would you Rather be a Seller or Buyer now in Albuquerque?

Well… Buyers certainly have a better selection of homes now than they did at this point last year. Mortgage rates were a skosh better this October compared to last, with rates hovering in the low 6% range versus last October’s mid 6% rates, so that’s also a slight plus.

But with rates not a whole lot better, it’s that higher inventory that’s working in buyers’ favor at this point. For sellers, the inventory brings more competition and the rates a bit of optimism. Me? I’d rather be buying than selling right now.

On the other hand, sellers who need to sell and buy something else will be benefiting from the mortgage ate improvement and stronger inventory of homes. A seller who may be kicking the idea around would probably better off holding until the first of the year.

– Joe LaMastra, RealABQ Real Estate, November 14, 2025