Is 87121, 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, 87121 has remained a Seller's Market.
Housing Prices in 87121, NM
How much do homes in 87121, NM cost?
Median Sold Price
$270,000
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87121 was $270,000 in March 2024, up 5.8% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $357.5K | $105K | -70.6% |
2 Bedrooms | $212K | $234K | +10.4% |
3 Bedrooms | $250K | $266.1K | +6.5% |
4 Bedrooms | $285K | $295K | +3.5% |
5+ Bedrooms | $315K | $357.4K | +13.5% |
Summary: 87121 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.6%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 13.5%.
Housing Supply in 87121, NM
How many homes are available in 87121, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
180 | 143 | -20.6% |
Summary: The 87121 real estate market had 143 homes for sale in March 2024, a 20.6% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 14 | 10 | -28.6% |
3 Bedrooms | 119 | 92 | -22.7% |
4 Bedrooms | 41 | 38 | -7.3% |
5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The 87121 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 22.7%, 4 bedroom homes decreased by 7.3%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
53 | 48 | -9.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Summary: A total of 48 homes were sold or pending in 87121 in March 2024, down by 9.4% month-over-month. Of the 48 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
10 Days | 36 Days | +251.2% |
Summary: Homes in 87121 had an average of 36 days on market in Mar 2024, up by 251.2% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During March 2024, 48 homes were sold in 87121; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.