Gallup, NM metro area Housing Market
Cool MarketComprehensive housing market data for the Gallup, NM metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$195K
↓ 30.2% YoY
Days on Market
62 days
↓ 10.1% YoY
Active Inventory
57
↑ 54.1% YoY
Homes Sold
10
↑ 11.1% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Gallup, NM metro area Market Summary
The Gallup, NM metro area housing market is cooling down. As of March 2026, the median home sale price is $195K, down 30.2% year-over-year. Homes are spending a median of 62 days on the market, 10.1% shorter than a year ago.
There are 57 homes for sale — 54.1% more than last year. With 5.7 months of supply, this is a balanced market. 9 new listings were added during this period, up 80.0% year-over-year.
Homes are selling for 102.2% of their list price on average, indicating buyers are paying above asking. 10.0% of homes sell above their asking price. 22.8% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
67
Contributing Factors
How This Market Compares
vs. National Median
vs. New Mexico Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. High inventory relative to sales pace means buyers have options and sellers may be flexible on price. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals. Prices are 55% below the national median, which could indicate stronger cash flow potential.
Gallup, NM metro area Market Trends
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Detailed Market Metrics
Median List Price
$370K
Price per Sq Ft
$133
Sale-to-List Ratio
102.2%
Months of Supply
5.7
Sold Above List
10.0%
Price Drops
22.8%
New Listings
9
↑ 80.0% YoY
Pending Sales
18
Off Market in 2 Weeks
22.2%
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.