Is 87121, NM a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 87121 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 87121 has remained a Seller's Market.

Key Takeaway

87121 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 87121, NM

How much do homes in 87121, NM cost?

Median Sold Price

$269,000

$183/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$14,020(+5.5%)

Key Takeaway

Homes in 87121 have sold for 5.5% more than they did a year ago.

Summary: The median home sold price in 87121 was $269,000 in February 2024, up 5.5% from last year, and the median price per square foot was $183.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $357.5K$105K
-70.6%
2 $212.5K$231K
+8.7%
3 $250K$265K
+6.0%
4 $284K$291.5K
+2.6%
5+ $308.7K$349.9K
+13.3%

Summary: 87121 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.6%, 2 bedroom homes increased by 8.7%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 13.3%.

Median Sold Price Compared To Nearby Zip Codes

87105
+17.2%
87120
+8.8%
87121
+5.5%
87114
+1.1%

Housing Supply in 87121, NM

How many homes are available in 87121, NM?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
172144-16.3%

Summary: The 87121 real estate market had 144 homes for sale in February 2024, a 16.3% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 11
0.0%
2 1310
-23.1%
3 11199
-10.8%
4 4230
-28.6%
5+ 54
-20.0%

Summary: The 87121 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 23.1%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes decreased by 20%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4451+15.9%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

18 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 87121, expect to pay close to the asking price. 35.3% of homes here sold near the asking price last month.

Summary: A total of 51 homes were sold or pending in 87121 in February 2024, up by 15.9% month-over-month. Of the 51 sold homes, 31% were sold under asking, 35% were sold at asking, and 33% were sold over asking.

Days on Market for 87121, NM

How long does it take to sell a home in 87121, NM?

Average Sale Time

Feb 2023Feb 2024CHANGE
36 Days36 Days-0.5%

Summary: Homes in 87121 had an average of 36 days on market in Feb 2024, down by 0.5% compared to last year.

Breakdown of Home Sale Times

32 Homes Were Sold
Under 30 Days

13 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 87121 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 51 homes were sold in 87121; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 28 Days Ago

Newest Listings in 87121, NM

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