Gallup, NM metro area Housing Market
Cold 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: January 2026
Median Sale Price
$265K
↑ 51.8% YoY
Days on Market
119 days
↑ 271.9% YoY
Active Inventory
55
↑ 37.5% YoY
Homes Sold
5
↓ 44.4% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
Gallup, NM metro area Market Summary
The Gallup, NM metro area housing market is cooling down. As of January 2026, the median home sale price is $265K, up 51.8% year-over-year. Homes are spending a median of 119 days on the market, 271.9% longer than a year ago.
There are 55 homes for sale — 37.5% more than last year. With 11.0 months of supply, this is a buyer's market. 12 new listings were added during this period, up 100.0% year-over-year.
0.0% of homes sell above their asking price. 16.4% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
80
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. Prices are 37% below the national median, which could indicate stronger cash flow potential.
Gallup, NM metro area Market Trends
Median Sale Price
Median Days on Market
Active Inventory
Homes Sold
Price per Square Foot
Sale-to-List Ratio
New Listings
Listings with Price Drops
Detailed Market Metrics
Median List Price
$240K
Price per Sq Ft
$141
Sale-to-List Ratio
N/A
Months of Supply
11.0
Sold Above List
0.0%
Price Drops
16.4%
New Listings
12
↑ 100.0% YoY
Pending Sales
11
Off Market in 2 Weeks
36.4%
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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.