Is 87114, 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, 87114 has remained a Seller's Market.
Housing Prices in 87114, NM
How much do homes in 87114, NM cost?
Median Sold Price
$358,683
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87114 was $358,683 in March 2024, up 2.9% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $168.6K | N/A |
2 Bedrooms | $235K | $265K | +12.8% |
3 Bedrooms | $320K | $330.5K | +3.3% |
4 Bedrooms | $384.3K | $392K | +2.0% |
5+ Bedrooms | $442K | $490K | +10.9% |
Summary: 87114 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 10.9%.
Housing Supply in 87114, NM
How many homes are available in 87114, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
235 | 202 | -14.0% |
Summary: The 87114 real estate market had 202 homes for sale in March 2024, a 14.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 5 | 7 | +40.0% |
3 Bedrooms | 118 | 98 | -16.9% |
4 Bedrooms | 93 | 80 | -14.0% |
5+ Bedrooms | 19 | 17 | -10.5% |
Summary: The 87114 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 increased by 40%, 3 bedroom homes decreased by 16.9%, 4 bedroom homes decreased by 14%, and 5+ bedroom homes decreased by 10.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
64 | 66 | +3.1% |
Asking Price vs. Sold Price
32 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
19 Homes Were Sold
Over Asking
Summary: A total of 66 homes were sold or pending in 87114 in March 2024, up by 3.1% month-over-month. Of the 66 sold homes, 48% were sold under asking, 23% were sold at asking, and 29% were sold over asking.
Days on Market for 87114, NM
How long does it take to sell a home in 87114, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 22 Days | -32.7% |
Summary: Homes in 87114 had an average of 22 days on market in Mar 2024, down by 32.7% compared to last year.
Breakdown of Home Sale Times
52 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 66 homes were sold in 87114; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.