Market Intelligence Report — NM-700

Gallup, NM

Monthly housing intelligence, market trends, and trusted local expertise.

Ref. No: 2026-NM-05
As of the latest 2026 data
Accelerated

Median Listing

$289K
+9.1% YoY

Pending Ratio

0.61
+20.5% YoY

Active Inventory

46
-19.3% YoY

Median DOM

120 Days
+122.2% YoY

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Gallup, NM, is an Accelerated market. The pending ratio of 0.61 indicates demand continues to outpace available inventory, despite a notable increase in days on market. Active listings have contracted by 19.3% year-over-year, further tightening supply.

Market Analysis

What's moving the Gallup market right now.

The market is experiencing a significant acceleration in demand relative to supply, with the pending ratio increasing by 20.5% year-over-year. Active listings have decreased by 19.3% year-over-year, while new listings also saw a decline of 16.7%. Median days on market have more than doubled year-over-year, reaching 120 days, suggesting a slower absorption of individual listings despite overall market demand. Median listing price increased by 9.1% year-over-year.

Historical Analysis

Market Trends

Median Price

$289K+20.5% MoM

Active Inventory

46-19.3% YoY

Days on Market

120+122.2% YoY

Sold Score™

68+20.5% YoY

Sold Score™ Over Time

Market liquidity index • 36 months

68
Jun 23May 26

Price & Days on Market

Median listing vs market velocity

Price DOM
Jun 23May 26

Inventory Dynamics

Total active listings vs new monthly supply

Active New listings
Jun 23Jan 24Aug 24Mar 25Oct 25May 26

Sourced from Realtor.com RDC Inventory Core Metrics, supplemented by the Primpted research desk. Updated As of the latest 2026 data.

Market Signals & Indicators

Negotiating Leverage

In Gallup, the accelerating pending ratio suggests demand is exerting considerable pressure on the current inventory levels. This dynamic implies a quicker pace of transactions for well-priced properties. While inventory contraction is present, the extended median days on market may require disciplined pricing strategies for individual listings.

Luxury Segment

The average listing price in Gallup has declined by 9.3% year-over-year, while the median listing price has increased by 9.1%. This divergence, alongside a static median $/sqft, suggests a potential softening at the higher price tiers relative to the market median.

Supply Dynamics

46 active listings represent the current floor, with new supply arriving at roughly 20 per month.

Pricing Pressure
8.3%

of active listings carry a price reduction, -4.4% from prior period.

$/Sq Ft
$0K

Median price per square foot has moved +4.6% year-over-year.

Absorption
0.61

Pending-to-active ratio — Accelerated.

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Metro Demographics

Metro Area
Gallup, NM
CBSA Code
23700
State
NM

ZIPs in Gallup, NM

Sorted by active inventory · click a ZIP for its full report

Analysis FAQ
  • What is the current market condition in Gallup?+

    As of the latest 2026 data, the Gallup metro is classified as Accelerated. Pending ratio is 0.61 with median days on market at 120.

  • Are home prices dropping in Gallup?+

    Median listing price is $289K, +9.1% year over year. 8.3% of active listings carry a price reduction.

  • How fast are homes selling in Gallup?+

    The typical listing sits 120 days on market, a +122.2% change YoY. New listings are arriving at 20 per month.

  • What's happening in the Gallup luxury market?+

    The average listing price in Gallup has declined by 9.3% year-over-year, while the median listing price has increased by 9.1%. This divergence, alongside a static median $/sqft, suggests a potential softening at the higher price tiers relative to the market median.

  • Where can I find a trusted Gallup real estate expert?+

    Primpted maintains a vetted registry of Gallup agents with verified credentials, Google reviews, and neighborhood specialization. See the Featured Experts section above.

Data & Methodology

Primary data sourced via Realtor.com's RDC Inventory Core Metrics (CBSA-level), supplemented by editorial analysis and the Primpted local expert registry. Historical trends calculated on a rolling 12-month basis. Past direction is not a forecast.

As of the latest 2026 data · CBSA 23700 · 36mo history