How is the housing market in Albuquerque New Mexico?
Zillow Home Value Index (ZHVI) for Albuquerque is $277,530 as of November 2021. Home values in Albuquerque have increased by 18.9% over the last year. Over the past five years home values in Albuquerque have increased by more than 54%.
Are home prices rising in Albuquerque?
The hot market in Albuquerque and surrounding areas follows a nationwide trend of rising home prices and low inventory. Across the U.S., home inventory stood at about 950,000 — a decrease of 9.5% year-over-year — and the median sales price stood at about $375,300, which is an increase of 15% from March 2021.
Is Albuquerque a buyers or sellers market?
Albuquerque real estate market trends show that it is a seller’s real estate market, which means that more people are looking to buy than there are homes available. The trend for median days on market in Albuquerque, NM is flat since last month, and slightly down since last year.
Is Albuquerque a cheap place to live?
According to gobankingrates.com, Albuquerque is among the top five most affordable cities for living comfortably. GAIN ACCESS TO EVERY LOCAL INSIGHT, LEAD AND MORE! According to the study, Albuquerque is home to some of the cheapest median rents, groceries and health care costs.
Why is Albuquerque so cheap?
Not to mention that, along with low property taxes, state income tax is 24% lower than the national average, making Albuquerque an affordable place to live, work, and settle down for retirement.
Why you shouldn’t live in Albuquerque?
New Mexico has the highest rate of property crime in the United States, driven in no small part by the situation in Albuquerque. This can be attributed to various socioeconomic factors in the city, including low education levels, a high unemployment rate, and higher levels of substance abuse in the population.
Is moving to Albuquerque worth it?
The job outlook for the city of Albuquerque is extremely promising, which is great news if you’re relocating for a job. It is the largest city in the state of New Mexico with only a 4.7% unemployment rate. While that is slightly higher than the national average of 4.1%, for the size of the city, it is very good.
Are people moving to New Mexico 2021?
Many are flocking to the Southwest and settling down in states like Arizona, Colorado, Texas, and New Mexico. In fact, in the early months of 2021, New Mexico ranked second (behind Idaho) as the state receiving the highest influx of new residents.
What are the negatives of living in New Mexico?
List of the Cons of Living in Albuquerque
- The job market is struggling in Albuquerque.
- The minimum wage is problematic for many families in Albuquerque.
- Some people can struggle to get used to the weather.
- Graduation rates in New Mexico are lackluster.
- Drug-related crime in high in Albuquerque.
What is the median price of a house in Albuquerque?
The trend for median days on market in Albuquerque, NM is flat since last month, and slightly down since last year. There are 206 neighborhoods in Albuquerque. High Desert has a median listing home price of $560K, making it the most expensive neighborhood in Albuquerque.
How competitive is the housing market in Albuquerque?
Data by Redfin shows that the Albuquerque housing market is not that competitive. Only a few homes in Albuquerque receive multiple offers. The average homes sell for around the list price and go pending in around 18 days. However, a hot listing can sell for about 3% above the list price and go pending in around 6 days.
Should you buy or rent a home in Albuquerque New Mexico?
Consider buying or renting a home in one of these popular neighborhoods. Albuquerque is a city in New Mexico and consists of 208 neighborhoods. There are 2,185 homes for sale, ranging from $6.5K to $7.5M. The median listing home price in Albuquerque, NM was $295K in September 2021, trending up 13.5% year-over-year.
How many apartments are available for rent in Albuquerque?
There are a total of 463 apartments for rent available in Albuquerque, NM. 1-Bedroom apartments are the most common, with a total of 163 listings available. 4-Bedroom apartments are the least common, with a total of 21 listings available. You’ll also find that houses and apartments in Albuquerque, NM range from affordable to luxury.