Is 87121, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, 87121 has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $357.5K | $105K | -70.6% |
2 Bedrooms | $212.5K | $231K | +8.7% |
3 Bedrooms | $250K | $265K | +6.0% |
4 Bedrooms | $284K | $291.5K | +2.6% |
5+ Bedrooms | $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%.
Housing Supply in 87121, NM
How many homes are available in 87121, NM?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
172 | 144 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 13 | 10 | -23.1% |
3 Bedrooms | 111 | 99 | -10.8% |
4 Bedrooms | 42 | 30 | -28.6% |
5+ Bedrooms | 5 | 4 | -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 2024 | Feb 2024 | CHANGE |
---|---|---|
44 | 51 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
36 Days | 36 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
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.