Is 87120, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 87120 has remained a Seller's Market.
Housing Prices in 87120, NM
How much do homes in 87120, NM cost?
Median Sold Price
$360,183
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 87120 was $360,183 in April 2024, up 7.2% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $282.5K | N/A |
2 Bedrooms | $249.2K | $270K | +8.3% |
3 Bedrooms | $310K | $330K | +6.5% |
4 Bedrooms | $419K | $455K | +8.6% |
5+ Bedrooms | $490K | $540K | +10.2% |
Summary: 87120 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 8.6%, and 5+ bedroom homes increased by 10.2%.
Housing Supply in 87120, NM
How many homes are available in 87120, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
271 | 284 | +4.8% |
Summary: The 87120 real estate market had 284 homes for sale in April 2024, a 4.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 27 | 24 | -11.1% |
3 Bedrooms | 141 | 158 | +12.1% |
4 Bedrooms | 76 | 73 | -3.9% |
5+ Bedrooms | 27 | 29 | +7.4% |
Summary: The 87120 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes increased by 7.4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
57 | 71 | +24.6% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Summary: A total of 71 homes were sold or pending in 87120 in April 2024, up by 24.6% month-over-month. Of the 71 sold homes, 31% were sold under asking, 35% were sold at asking, and 34% were sold over asking.
Days on Market for 87120, NM
How long does it take to sell a home in 87120, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
23 Days | 21 Days | -9.3% |
Summary: Homes in 87120 had an average of 21 days on market in Apr 2024, down by 9.3% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During April 2024, 71 homes were sold in 87120; 80% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.