Will my home sell in Albuquerque?

Your home in Albuquerque has a good chance of selling, though it might take a couple of months. Homes are still attracting buyers, even with a slight price dip. Expect it to be on the market for about two months. The median listing price right now is $418,600. This is a tiny bit lower than last month, down 0.4%, and also slightly lower than last year, down 0.3%. This small dip means prices are holding fairly steady, which is good news for sellers. There are 2,059 homes actively for sale in Albuquerque, which is slightly fewer than a year ago, down 2.8%. Also, fewer new homes are coming on the market, down 3.1% from last year. This means there isn't a huge flood of new homes competing with yours. Homes are staying on the market for a median of 60 days. This is a little quicker than last year, down 2.5%, suggesting buyers are still making decisions relatively fast. Almost a quarter of homes, 23.4%, have had price reductions, which is a bit less common than last year. The good news is that for every 10 active listings, nearly 6 are already under contract to be sold. This "pending ratio" of 0.59 is up slightly from last year, meaning buyers are actively making offers. To sell your home, make sure it's priced well and stands out, as buyers are looking and making purchases, but also considering their options.