Greetings, potential home buyer, and welcome to our information page covering the Albuquerque, New Mexico real estate market. If you're thinking of moving to Albuquerque, you've already started your home search on the right foot by learning about the city and its real estate market BEFORE leaving your Bloor West Village condo. You can use this page to see if Albuquerque is right for you before you make any commitments that will be hard to back out of. So sit back and let us cover the basics for you.

Neighborhoods

If you're coming from a horse farm in London, Ontario, you'll be happy to know that although Albuquerque is very much a city, its population density is low enough to allow for a wide range of neighborhoods, from downtown high rise havens to friendly suburban cul-de-sacs to sprawling agricultural acreages. While you're unlikely to find water views here, you will have the option of enjoying the quiet dignity of the desert, the leafy stillness of Cibola National Forest, or the towering majesty of the Sandia Mountains from your living room windows.

Home Styles

Most Albuquerque residents prefer to reign supreme over their own little piece of land, so the most popular type of home in the city is the single family detached. You can also find some condos and apartments, particularly downtown and as part of planned subdivisions, and a limited number of townhomes, but nothing like the proliferation of downtown Toronto townhomes in that city's listings. The desert setting naturally lends itself toward Spanish Colonial stylings, though the area's history and climate have also made Pueblo Revival popular as well. And this America, so expect a fair number of houses in the ubiquitous McMansion style.

Prices

The average listing price for a single family home in Albuquerque is (as of mid November, 2009) around $310,000, which is under half of what you would pay for homes for sale in Lorne Park, Toronto. The middling sale price is closer to $150,000, which is an even better deal for you. Prices depend on the neighborhood, of course, so among the most popular neighborhoods we see prices varying between $165,000 (Skies West) and $835,000 (North Albuquerque Acres).

Trends

The recession and sub prime mortgage crisis have created a nationwide downward home values trend. While types of home in some places like Lagrange, NY homes have begun to recover and are climbing the values ladder once again, Albuquerque is still trending downward. The median sales price has decreased 9% since last year and the number of homes sold has decreased nearly 30%. This means it is still a buyer's market in Albuquerque and is likely to remain so for some time. This is good news for you if you're coming to the city from a city whose market has fared better, or this is your first home purchase.