Albuquerque, NM 87120 Real Estate Market Report

ZIP Code: 87120
Report Date: April 2026
Market Temperature: NEUTRAL
Scope: Single-Family Residential (SFR) listings and comps only

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Executive Overview

The Albuquerque housing market in ZIP code 87120 is currently characterized by a median sold price of $353,500, reflecting a stable market environment. This indicates a modest increase in property values, as the market appears to be appreciating year-over-year. The current market conditions suggest a balance between buyers and sellers, with the median days on market at 247 days, indicating slower sales velocity and a potential for pricing friction as properties linger longer before sale.

Inventory levels are elevated, with excess supply relative to sales activity, which may indicate a shift towards a more balanced market. The median listing price stands at $485,000, creating a noticeable gap between asking and sold prices, which could suggest seller expectations are not fully aligned with current market realities. Overall, the market temperature is neutral, reflecting a stabilization phase as it adjusts to recent trends in buyer behavior and pricing dynamics.

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Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Market Metrics

Note: The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

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Rental Market

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Property Taxes

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Liquidity & Velocity

Note: A Sale-to-List Ratio near 100% can occur when properties sell at or near their final listing price after price adjustments during the listing period, even when initial listing prices differ significantly from sale prices.

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Market Trends & Context

Understanding Market Temperature

A Neutral market indicates balanced conditions where neither buyers nor sellers have a strong advantage, typically characterized by flat price trends, extended but stable days on market, and moderate inventory relative to sales.

Current Mortgage Rate Context

Market-level mortgage rate comparison for this area:

Current 30-year fixed mortgage rates in Albuquerque, NM are averaging 6.65% compared to approximately 6.35% when loans originated in early 2026.

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

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Key Findings

1. $353,500 is the median sold price, indicating a stable market with modest appreciation.

2. The median listing price of $485,000 suggests a gap between seller expectations and market realities, which may lead to pricing friction.

3. With 247 days as the median days on market, the market is experiencing slower sales velocity, indicating potential buyer hesitance.

4. Inventory levels are elevated, reflecting excess supply relative to sales activity, which may lead to a more balanced market.

5. The rental market is showing a downward trend with a median market rent of $1,950, suggesting a cooling in rental demand.

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Notable Properties

The following 8 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.