Your ABQ Market Update: Navigating the Shifting Real Estate Landscape in 2024

Dated: January 11 2024

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The housing market across the greater Albuquerque area remains robust, though some shifts are starting to take place. Here's a quick recap of what buyers and sellers can expect:

Market Dynamics

  • Total Inventory: Active listings saw a slight decrease from around 1700 homes to the 1,500s, signaling a slight tightening of available options.

  • Median Sales Price: Home prices are holding steady around $338,000, reflecting continued strong demand amidst limited inventory.

Buyer's Perspective

For prospective homebuyers, the market continues to demand swift action. Homes that are appropriately priced and well-maintained are still moving quickly. On average, properties are spending approximately 29 days on the market before going under contract, emphasizing the need for decisive and efficient decision-making.

2024 Outlook

As we venture into 2024, the Albuquerque housing market stands resilient. The recent stabilization of interest rates, now hovering in the 6s from a recent peak in the 8s, has reignited buyer interest. Furthermore, the anticipation of further rate decreases throughout the year has sparked activity, reinforcing the importance of not delaying real estate decisions.

My Commitment to You

As a dedicated real estate professional serving the greater Albuquerque area, I am committed to providing you with the guidance and expertise necessary to navigate this evolving market. Whether you're considering your next move or simply seeking personalized insights, I'm here to assist at every step of your real estate journey.

I'm looking forward to helping you achieve your real estate goals in 2024 and beyond. Here's to a successful and fulfilling year in real estate!

#YourABQMarketUpdate #AlbuquerqueRealEstate #RealEstateTrends #HomeBuying #HomeSelling #NewYearRealEstate #LocalExpert

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Melissa Moya

Melissa Moya is a Realtor in Albuquerque, NM and the surrounding areas. She has a passion for real estate and loves helping her clients achieve their goals. Whether you are a first-time homebuyer, an ....

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