November Check-In: Inventory and Pricing Trends in the ABQ Metro

As the holidays approach, things start to slow down for many people, but the Albuquerque real estate market never truly stops! If you’ve been watching the market waiting for the perfect time to make a move, November is a critical month to check in on.

I’m Jason L. Jenkins, your local ABQ realtor, and here’s a quick analysis of what we’re seeing right now with inventory and pricing trends across the Albuquerque Metro area.

Inventory: The Winter Tightening

The most significant trend we’ve noticed this November is the predictable tightening of housing inventory.

• Sellers Taking a Break: Many homeowners choose to hold off listing their properties between Thanksgiving and the New Year. This is standard behavior, resulting in fewer new listings coming onto the market.
• Active Listings Drop: We’re seeing the total number of active ABQ homes for sale slightly dip compared to the summer and early fall months.
• The Opportunity: While low inventory sounds like a negative for buyers, it actually creates a unique opportunity. Serious buyers—who haven't taken a holiday break—face less competition. If you find a home you love now, you’re likely negotiating with motivated sellers who are still listed during the holiday window.

Key takeaway for Buyers: Fewer homes mean fewer choices, but the competition is also lighter. You might find sellers more willing to work with your offer terms, especially regarding closing dates.

Pricing: Stability with Targeted Adjustments

Despite the drop in inventory, the median sale price in the Albuquerque Metro area remains remarkably stable. The price growth has cooled from the dramatic spikes we saw earlier in the year, but we are not seeing widespread price drops.

What’s Happening with Prices?

1. Price Reductions on the Margins: The only properties seeing consistent price reductions are those that were overpriced to begin with or have been sitting on the market for an extended period. Buyers are savvy; they know what a home is truly worth.
2. Affordability vs. Value: Demand is still strong in the mid-range and entry-level markets. Homes priced appropriately for their condition and location are still moving quickly, often at or near the list price.

1. The Impact of Interest Rates: Fluctuations in mortgage interest rates have had a greater influence on monthly payments than home prices have, causing buyers to adjust their budgets slightly downward. This pressure keeps sellers from pushing prices too aggressively.

Key takeaway for Sellers: If you’re planning to list, pricing is more critical than ever. An accurate, aggressive listing price will attract immediate attention and minimize days on market. Overpricing now will likely lead to a price reduction in January.

What to Expect Next: December and January

If historical trends hold true, here is what we anticipate for the coming months:

Whether you’re seeking to take advantage of the slower pace of the holiday market or preparing to list your home in the new year, having a current, data-driven perspective is essential.

Ready to leverage these trends and make your move? Let’s schedule a call to review the ABQ real estate market specifics in your target neighborhood.