Published October 2, 2026 in Market Update

Some parts of Albuquerque Metro Area are still moving very fast

By Roberta Robledo

Real estate, Albuquerque Metro Area

Thank you for reading this. Here is the one thing that matters most right now. The Wall Street Journal reported that mortgage rates have broken through 7%. That is real pressure on buyers. Yet the Real Estate Data Aggregator counted just 1.6 months of supply in ZIP 87110 for the three months ending July 31, 2026. That is the tightest reading in the metro. Tight supply means sellers still hold some cards, even with rates where they are.

CNBC reported the average contract rate for a 30-year fixed mortgage at 7.30% on September 30, 2026. Mortgage News Daily put it even higher, at 7.58%, on that same day, also per CNBC. Rates at this level do slow some buyers down. But they have not stopped activity in every part of Albuquerque Metro Area.

Speed varies a lot by ZIP code

The Real Estate Data Aggregator counted 42.7% of homes in ZIP 87121 going under contract within two weeks for the three months ending July 31, 2026. That is the highest share in the metro. In ZIP 87109, 40.4% did the same. Those are not slow markets. In ZIP 87068, only 12.5% went under contract that fast. One metro, very different speeds.

Supply tells the same story

Months of supply measures how long it would take to sell every home listed, at the current pace. The Real Estate Data Aggregator measured 1.6 months in ZIP 87110 for the three months ending July 31, 2026. That is very low. ZIP 87121 had 1.8 months, and ZIP 87114 had 1.9 months. At the other end, ZIP 87068 had 9.2 months and ZIP 87031 had 5.2 months. Sellers in those ZIPs face more competition.

Prices are mostly holding

The Federal Housing Finance Agency reported that U.S. house prices rose 2.6% from July 2025 to July 2026. Locally, most ZIP codes followed that direction. The Real Estate Data Aggregator measured the median sale price in ZIP 87107 up 13.4% year over year, to $402,573, for the three months ending July 31, 2026. ZIP 87123 rose 7.2%, to $360,000. Not every ZIP gained, though. ZIP 87104 saw the median drop 24.9%, to $377,250. ZIP 87043 dropped 10.6%, to $735,000. Pricing carefully still matters.

Days on market: fast in some places, slower in others

The Real Estate Data Aggregator measured a median of 25 days on market in both ZIP 87121 and ZIP 87015 for the three months ending July 31, 2026. ZIP 87121 was 3 days shorter than a year before. ZIP 87015 was a full 28 days shorter, a big improvement. On the other hand, ZIP 87002 had a median of 83 days, up 32 days from the same period in 2025. That is a meaningful difference for a seller setting expectations.

The whole metro in one look

Across all 20 ZIP codes, the Real Estate Data Aggregator counted 2,307 homes sold, 2,110 homes for sale, 2,588 new listings and 2,401 pending sales for the three months ending July 31, 2026. Pending sales nearly matching homes sold is a healthy sign. It means the pipeline is still moving.

What this means for you

If you are a buyer, some parts of the metro still need a quick decision. ZIP 87121 had 42.7% of homes under contract within two weeks, per the Real Estate Data Aggregator. That pace does not leave much room to wait. If you are a seller, your ZIP code matters a lot. A home in 87110 with 1.6 months of supply sits in a very different place than one in 87068 with 9.2 months. One street can read very differently from the whole ZIP code, and one ZIP can read very differently from the metro average. I would be glad to look at your specific address with you.