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%.