Is Los Ranchos de Albuquerque, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Los Ranchos de Albuquerque was a Seller's Market.
Key Takeaway
Los Ranchos de Albuquerque is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Los Ranchos de Albuquerque, NM
How much do homes in Los Ranchos de Albuquerque, NM cost?
Median Sold Price
$881,750
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Los Ranchos de Albuquerque have sold for 13.3% more than they did a year ago.
Summary: The median home sold price in Los Ranchos de Albuquerque was $881,750 in May 2024, up 13.3% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $1.2M | $300K | -76.0% |
| 2 Bedrooms | $390K | $430K | +10.3% |
| 3 Bedrooms | $526.5K | $652.9K | +24.0% |
| 4 Bedrooms | $1.0M | $937.5K | -10.7% |
| 5+ Bedrooms | $791K | $1.0M | +34.6% |
Summary: Los Ranchos de Albuquerque housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 76%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 24%, 4 bedroom homes decreased by 10.7%, and 5+ bedroom homes increased by 34.6%.
Median Sold Price Compared To Nearby Cities
| Los Ranchos de Albuquerque | $778K | $881.7K | +13.3% |
| Albuquerque | $317.1K | $339.5K | +7.0% |
Housing Supply in Los Ranchos de Albuquerque, NM
How many homes are available in Los Ranchos de Albuquerque, NM?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 20 | -4.8% |
Summary: The Los Ranchos de Albuquerque real estate market had 20 homes for sale in May 2024, a 4.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 9 | 8 | -11.1% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Los Ranchos de Albuquerque housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Los Ranchos de Albuquerque, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Los Ranchos de Albuquerque in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Los Ranchos de Albuquerque, NM
How long does it take to sell a home in Los Ranchos de Albuquerque, NM?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 59 Days | 17 Days | -70.6% |
Summary: Homes in Los Ranchos de Albuquerque had an average of 17 days on market in May 2024, down by 70.6% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Los Ranchos de Albuquerque are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Los Ranchos de Albuquerque; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.