Is City Limits Southwest, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, City Limits Southwest has remained a Seller's Market.
Housing Prices in City Limits Southwest, NM
How much do homes in City Limits Southwest, NM cost?
Median Sold Price
$562,000
$389/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in City Limits Southwest was $562,000 in April 2024, up 2.7% from last year, and the median price per square foot was $389.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $293.5K | $345K | +17.5% |
2 Bedrooms | $475K | $541K | +13.9% |
3 Bedrooms | $595.5K | $570.5K | -4.2% |
4 Bedrooms | $690K | $615K | -10.9% |
5+ Bedrooms | $1.1M | - | N/A |
Summary: City Limits Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.5%, 2 bedroom homes increased by 13.9%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes did not change.
Housing Supply in City Limits Southwest, NM
How many homes are available in City Limits Southwest, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
31 | 45 | +45.2% |
Summary: The City Limits Southwest real estate market had 45 homes for sale in April 2024, a 45.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 11 | 15 | +36.4% |
3 Bedrooms | 12 | 21 | +75.0% |
4 Bedrooms | 6 | 6 | 0.0% |
5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The City Limits Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 14 | +180.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in City Limits Southwest in April 2024, up by 180.0% month-over-month. Of the 14 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for City Limits Southwest, NM
How long does it take to sell a home in City Limits Southwest, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 10 Days | -75.7% |
Summary: Homes in City Limits Southwest had an average of 10 days on market in Apr 2024, down by 75.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 14 homes were sold in City Limits Southwest; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.