Albuquerque Housing Market Update – February 2026

Key Takeaways

New listings declined year-over-year, with overall listings down about 8.9% compared with February 2025, meaning fewer homes entered the Albuquerque market.
Pending sales increased 16.5% for single family homes, indicating strong buyer activity heading toward the spring season.
Home prices continued to rise modestly, with the median price for single-family homes reaching $375,000, up 4.2% year-over-year.
Homes are taking slightly longer to sell, with average days on market increasing to around 53 days overall.
Inventory remains limited, with about 2.1 months of housing supply, keeping the Albuquerque market competitive.

What’s Happening in the Albuquerque Housing Market?

The Albuquerque housing market in February 2026 continued its gradual adjustment after several years of extremely tight inventory and rapid price growth. Home prices are still rising, but at a more moderate pace, and homes are taking slightly longer to sell than they did during the most competitive market conditions.

At the same time, buyer activity appears to be strengthening again. Pending sales increased compared with last year, suggesting that more buyers are entering the market as the spring season approaches. Despite some month-to-month fluctuations, the overall market remains relatively stable with steady demand and limited housing supply.

For buyers and sellers alike, the Albuquerque housing market has become slightly more balanced, while still maintaining many characteristics of a seller-leaning market.

Read or download the full February report here.

New Listings

As we saw in January, February showed a decline in the number of homes entering the market. Overall new listings dropped about 8.9% compared with February 2025, reflecting fewer homeowners choosing to sell at this point in the year.

For single-family homes specifically:

Single-family detached listings: down 8.1% year-over-year

Single-family attached listings: down 16.7% year-over-year

Lower listing activity can tighten supply, particularly early in the year when inventory levels are already limited. When fewer homes come onto the market, buyers often have fewer options to choose from, which can help support price stability.

As the spring season progresses, it’ll be interesting to see whether listing activity increases, as this is typically when many homeowners choose to sell.

Closed Sales

Closed sales in February were somewhat lower than the same time last year.

Across all property types, 673 homes closed during the month, representing a 7.9% decline compared with February 2025. For single-family homes we saw 610 closings, down 7.3% year-over-year. For attached homes there were 63 closings, down 13.7% compared with last year

However, pending sales increased a significant 13.6%, suggesting buyer activity may be strengthening. Pending sales, homes that have gone under contract but have not yet closed, often indicate the direction the market may move in the coming months.

If we continue to see increased pendings, we’ll see increased closings follow.

Home Prices

Home prices in Albuquerque continued their gradual upward trend in February.

The median price for single-family detached homes reached $375,000, a 4.2% increase compared with February 2025.

Other price indicators also showed modest growth:

Average single-family home price: approximately $429,902, up 2.7% year-over-year
Overall median sales price across all properties: about $364,000, up 2.7% from last year

These increases reflect the ongoing imbalance between supply and demand. Even though the pace of price growth has slowed compared with earlier years, steady buyer demand continues to push home values upward.

Days on Market

Homes continue to sit on-market longer than they did a year ago, though the change is relatively modest.

In February, the average days on market increased to about 53 days, up 8.2% compared with February 2025.

For single-family detached homes specifically:

Average time to sell: about 54 days
Year-over-year change: approximately 5.9% longer than last year

While homes are staying on the market slightly longer and sellers adjust to the change, buyers are enjoying a bit more time to evaluate their options. And keep in mind, sellers are also typically buyers, here or somewhere else. So it’s a push, overall.

Inventory

Housing inventory remains one of the defining factors in the Albuquerque market. At the end of February, there were approximately 1,744 homes available for sale across all property types, representing a 4.7% decline compared with last year.

This equates to about 2.1 months of housing supply at the current pace of sales. Balanced markets historically have 4–6 months of supply, so it’s not what anyone would call a buyer’s market. Lower supply levels tend to favor sellers.

With inventory still well below balanced-market levels, competition among buyers will stay strong for well-priced homes.

What This Means for Albuquerque Buyers and Sellers

Buyers

Buyers will find the Albuquerque market slightly easier to navigate than during the intense competition of recent years. Homes are staying on the market a bit longer, giving buyers more time to evaluate properties and make decisions.

However, limited inventory means buyers still need to be prepared to act quickly when they find the right home. Well-priced properties in desirable neighborhoods often still attract multiple offers.

Sellers

Sellers continue to benefit from relatively low inventory and steady demand. Home prices are still rising, though at a more moderate pace than in previous years.

Pricing a home correctly remains critical. Homes that are competitively priced and well presented tend to attract buyers more quickly, while overpriced listings may take longer to sell in today’s slightly more balanced market.

– Joe LaMastra, RealABQ Real Estate, March 14, 2026