Is 87109, 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, 87109 has remained a Seller's Market.
Housing Prices in 87109, NM
How much do homes in 87109, NM cost?
Median Sold Price
$355,166
$209/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87109 was $355,166 in March 2024, up 5.1% from last year, and the median price per square foot was $209.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $119K | $125.5K | +5.5% |
2 Bedrooms | $255K | $280K | +9.8% |
3 Bedrooms | $330K | $355.5K | +7.7% |
4 Bedrooms | $410K | $434.2K | +5.9% |
5+ Bedrooms | $452K | $640K | +41.6% |
Summary: 87109 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 9.8%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes increased by 41.6%.
Housing Supply in 87109, NM
How many homes are available in 87109, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
100 | 87 | -13.0% |
Summary: The 87109 real estate market had 87 homes for sale in March 2024, a 13.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 4 | -20.0% |
2 Bedrooms | 28 | 24 | -14.3% |
3 Bedrooms | 43 | 34 | -20.9% |
4 Bedrooms | 23 | 23 | 0.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 87109 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 14.3%, 3 bedroom homes decreased by 20.9%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
26 | 25 | -3.8% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 25 homes were sold or pending in 87109 in March 2024, down by 3.8% month-over-month. Of the 25 sold homes, 52% were sold under asking, 16% were sold at asking, and 32% were sold over asking.
Days on Market for 87109, NM
How long does it take to sell a home in 87109, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
14 Days | 30 Days | +118.2% |
Summary: Homes in 87109 had an average of 30 days on market in Mar 2024, up by 118.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 25 homes were sold in 87109; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.