Is 87112, 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, 87112 has remained a Seller's Market.
Key Takeaway
87112 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87112, NM
How much do homes in 87112, NM cost?
Median Sold Price
$302,687
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 87112 have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in 87112 was $302,687 in March 2024, up 6.8% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $520K | $185K | -64.4% |
| 2 Bedrooms | $243.5K | $245K | +0.6% |
| 3 Bedrooms | $270K | $292K | +8.1% |
| 4 Bedrooms | $340K | $341.5K | 0.5% |
| 5+ Bedrooms | $349.5K | $426K | +21.9% |
Summary: 87112 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 64.4%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 21.9%.
Housing Supply in 87112, NM
How many homes are available in 87112, NM?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 143 | 135 | -5.6% |
Summary: The 87112 real estate market had 135 homes for sale in March 2024, a 5.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 88 | 82 | -6.8% |
| 4 Bedrooms | 42 | 41 | -2.4% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The 87112 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 10%, 3 bedroom homes decreased by 6.8%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 37 | 39 | +5.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87112, you may be able to get a good deal. 35.9% of homes here sold below asking price last month.
Summary: A total of 39 homes were sold or pending in 87112 in March 2024, up by 5.4% month-over-month. Of the 39 sold homes, 36% were sold under asking, 31% were sold at asking, and 33% were sold over asking.
Days on Market for 87112, NM
How long does it take to sell a home in 87112, NM?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 24 Days | 14 Days | -39.7% |
Summary: Homes in 87112 had an average of 14 days on market in Mar 2024, down by 39.7% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 87112 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 39 homes were sold in 87112; 87% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 3% 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.