Is 87048, 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, 87048 has remained a Seller's Market.
Key Takeaway
87048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87048, NM
How much do homes in 87048, NM cost?
Median Sold Price
$693,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in 87048 have sold for 1.8% less than they did a year ago.
Summary: The median home sold price in 87048 was $693,000 in April 2024, down 1.8% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | - | N/A |
| 2 Bedrooms | $360K | $510K | +41.7% |
| 3 Bedrooms | $625K | $617.2K | -1.2% |
| 4 Bedrooms | $795K | $895K | +12.6% |
| 5+ Bedrooms | $1.2M | $1.2M | -4.5% |
Summary: 87048 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 41.7%, 3 bedroom homes decreased by 1.2%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in 87048, NM
How many homes are available in 87048, NM?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 42 | 39 | -7.1% |
Summary: The 87048 real estate market had 39 homes for sale in April 2024, a 7.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 5 | 0.0% |
| 3 Bedrooms | 23 | 23 | 0.0% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The 87048 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87048, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in 87048 in April 2024, up by 125.0% month-over-month. Of the 9 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 87048, NM
How long does it take to sell a home in 87048, NM?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 31 Days | 55 Days | +73.9% |
Summary: Homes in 87048 had an average of 55 days on market in Apr 2024, up by 73.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 87048 are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 9 homes were sold in 87048; 67% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 11% 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.