Published October 2, 2026 in Market Update

Some parts of Albuquerque are still moving fast despite 7% mortgage rates

By Roberta Robledo

Real estate, Albuquerque Metro Area

Thank you for reading. Here is what the numbers actually show for your neighborhood right now.

The Wall Street Journal reported that mortgage rates broke through 7% as of October 1, 2026. That is a real headwind. But it has not stopped buyers in every part of Albuquerque.

In ZIP 87121, the Real Estate Data Aggregator counted 42.7% of homes going under contract within two weeks of listing. That is the highest share in the metro for the three months ending July 31, 2026. Supply there fell 27% from a year before, per the Real Estate Data Aggregator. Less supply, same buyers. That is why things move fast.

How fast are homes moving across the metro?

Not every ZIP code looks the same. Some are quick. Some are slower. Here is how the Real Estate Data Aggregator ranked them for the three months ending July 31, 2026.

ZIP 87109 was close behind 87121. The Real Estate Data Aggregator counted 40.4% of homes there going under contract within two weeks. That share jumped 14 points from a year before. Sellers in 87109 averaged 100.1% of their list price, meaning homes there sold for slightly above asking on average.

Where supply is tightest

Speed follows supply. The Real Estate Data Aggregator shows the tightest markets had the fewest months of supply.

ZIP 87110 had just 1.6 months of supply, the tightest in the metro, per the Real Estate Data Aggregator. That is down 0.8 months from a year before. Pending sales there rose 31.5% year over year.

Prices are holding in most ZIP codes

Most ZIP codes saw prices rise from a year ago. A few dipped a little. Here is what the Real Estate Data Aggregator recorded for the three months ending July 31, 2026.

ZIP 87104 saw the biggest price drop, down 24.9% from a year before. That is a large move, and worth noting honestly. At the same time, homes sold there rose 16.7% year over year. More sales at a lower price can mean the mix of homes sold shifted, not that every home lost value.

ZIP 87107 led price growth, up 13.4% to a median of $402,573, per the Real Estate Data Aggregator. ZIP 87123 rose 7.2% to $360,000.

The broader picture: rates and national prices

CNBC reported the average 30-year fixed rate at 7.30% as of September 30, 2026. Mortgage News Daily put it even higher, at 7.58% on that same day, also per CNBC. The Wall Street Journal noted rates broke through 7% as of October 1, 2026.

National prices rose 2.6% year over year in July, per the Federal Housing Finance Agency. That is a slower pace than some Albuquerque ZIP codes, which is a good sign for local sellers.

The whole metro in four numbers

The Real Estate Data Aggregator counted 2,307 homes sold and 2,401 pending sales across the metro for the three months ending July 31, 2026. Pending sales running ahead of closed sales is a healthy sign. Demand is still there.

These numbers cover the three months ending July 31, 2026. Your street may look different from the ZIP code average. I would be glad to pull the details for your specific address. Thank you so much for taking the time to read this.