ABQ home prices up nearly 15% from last year - Albuquerque Journal

ABQ home prices up nearly 15% from last year

A for sale sign stands outside in Northeast Albuquerque Wednesday.

Albuquerque home prices dipped slightly from October to November, but still remained well above where they stood 12 months earlier.

The median sales price for a detached single-family home in metro Albuquerque was $256,000 in November, according to a report from the Greater Albuquerque Association of Realtors. That figure is down slightly from a median price of $264,000 in October, but still up by 14.8% compared to November 2019, according to the report.

The mean price for a detached house was $298,932 in November, compared to $262,771 a year prior, according to the report.

Albuquerque real estate agents have previously said that low interest rates and limited inventory has created a strong local market despite the impact of the COVID-19 pandemic.

The number of both pending and closed home sales in November increased by around 25% in November year-over-year, while the inventory of houses for sale decreased by 54.6%.

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