Is 87111, 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, 87111 has remained a Seller's Market.
Housing Prices in 87111, NM
How much do homes in 87111, NM cost?
Median Sold Price
$420,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87111 was $420,000 in March 2024, up 11.2% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $140.5K | $187.2K | +33.2% |
2 Bedrooms | $280K | $324K | +15.7% |
3 Bedrooms | $362K | $399.5K | +10.4% |
4 Bedrooms | $487K | $495K | +1.6% |
5+ Bedrooms | $681K | $696K | +2.2% |
Summary: 87111 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 33.2%, 2 bedroom homes increased by 15.7%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 2.2%.
Housing Supply in 87111, NM
How many homes are available in 87111, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
165 | 155 | -6.1% |
Summary: The 87111 real estate market had 155 homes for sale in March 2024, a 6.1% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 23 | 19 | -17.4% |
3 Bedrooms | 85 | 82 | -3.5% |
4 Bedrooms | 46 | 43 | -6.5% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 87111 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 17.4%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
44 | 42 | -4.5% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 42 homes were sold or pending in 87111 in March 2024, down by 4.5% month-over-month. Of the 42 sold homes, 60% were sold under asking, 17% were sold at asking, and 24% were sold over asking.
Days on Market for 87111, NM
How long does it take to sell a home in 87111, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
20 Days | 15 Days | -24.4% |
Summary: Homes in 87111 had an average of 15 days on market in Mar 2024, down by 24.4% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 42 homes were sold in 87111; 79% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.