Is 87002, 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, 87002 has remained a Seller's Market.
Key Takeaway
87002 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87002, NM
How much do homes in 87002, NM cost?
Median Sold Price
$265,300
$165/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 87002 have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in 87002 was $265,300 in April 2024, up 15.3% from last year, and the median price per square foot was $165.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94K | - | N/A |
| 2 Bedrooms | $155K | $180K | +16.1% |
| 3 Bedrooms | $238.5K | $263.9K | +10.7% |
| 4 Bedrooms | $300K | $321.4K | +7.1% |
| 5+ Bedrooms | $274.4K | $333.4K | +21.5% |
Summary: 87002 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.1%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 21.5%.
Median Sold Price Compared To Nearby Zip Codes
| 87002 | $230K | $265.3K | +15.3% |
| 87031 | $299.9K | $304.9K | +1.7% |
Housing Supply in 87002, NM
How many homes are available in 87002, NM?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 101 | 97 | -4.0% |
Summary: The 87002 real estate market had 97 homes for sale in April 2024, a 4.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 66 | 67 | +1.5% |
| 4 Bedrooms | 20 | 16 | -20.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 87002 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 1.5%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 25 | 22 | -12.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87002, expect to pay close to the asking price. 40.9% of homes here sold near the asking price last month.
Summary: A total of 22 homes were sold or pending in 87002 in April 2024, down by 12.0% month-over-month. Of the 22 sold homes, 36% were sold under asking, 41% were sold at asking, and 23% were sold over asking.
Days on Market for 87002, NM
How long does it take to sell a home in 87002, NM?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 47 Days | 49 Days | +2.3% |
Summary: Homes in 87002 had an average of 49 days on market in Apr 2024, up by 2.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87002 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 22 homes were sold in 87002; 68% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.