Is 87102, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 87102 has remained a Seller's Market.
Housing Prices in 87102, NM
How much do homes in 87102, NM cost?
Median Sold Price
$269,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87102 was $269,000 in March 2024, up 7.6% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $210K | $227K | +8.1% |
2 Bedrooms | $250K | $272K | +8.8% |
3 Bedrooms | $265K | $315K | +18.9% |
4 Bedrooms | $265K | $293.7K | +10.8% |
5+ Bedrooms | $380K | $465K | +22.4% |
Summary: 87102 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.1%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 18.9%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes increased by 22.4%.
Housing Supply in 87102, NM
How many homes are available in 87102, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
73 | 55 | -24.7% |
Summary: The 87102 real estate market had 55 homes for sale in March 2024, a 24.7% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 20 | 16 | -20.0% |
2 Bedrooms | 32 | 23 | -28.1% |
3 Bedrooms | 15 | 11 | -26.7% |
4 Bedrooms | 4 | 3 | -25.0% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The 87102 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 28.1%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
18 | 13 | -27.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in 87102 in March 2024, down by 27.8% month-over-month. Of the 13 sold homes, 62% were sold under asking, 23% were sold at asking, and 15% were sold over asking.
Days on Market for 87102, NM
How long does it take to sell a home in 87102, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 54 Days | +69.4% |
Summary: Homes in 87102 had an average of 54 days on market in Mar 2024, up by 69.4% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 13 homes were sold in 87102; 62% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.