Is 87122, 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, 87122 has remained a Seller's Market.
Housing Prices in 87122, NM
How much do homes in 87122, NM cost?
Median Sold Price
$727,500
$253/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87122 was $727,500 in March 2024, up 8.3% from last year, and the median price per square foot was $253.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $570K | N/A |
2 Bedrooms | $385K | $410K | +6.5% |
3 Bedrooms | $513K | $630K | +22.8% |
4 Bedrooms | $767.5K | $827.5K | +7.8% |
5+ Bedrooms | $967.5K | $1.0M | +13.5% |
Summary: 87122 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 6.5%, 3 bedroom homes increased by 22.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 13.5%.
Housing Supply in 87122, NM
How many homes are available in 87122, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 61 | -9.0% |
Summary: The 87122 real estate market had 61 homes for sale in March 2024, a 9.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 30 | 22 | -26.7% |
4 Bedrooms | 20 | 23 | +15.0% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The 87122 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 33.3%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes increased by 15%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
17 | 21 | +23.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 21 homes were sold or pending in 87122 in March 2024, up by 23.5% month-over-month. Of the 21 sold homes, 52% were sold under asking, 29% were sold at asking, and 19% were sold over asking.
Days on Market for 87122, NM
How long does it take to sell a home in 87122, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
21 Days | 39 Days | +78.3% |
Summary: Homes in 87122 had an average of 39 days on market in Mar 2024, up by 78.3% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 21 homes were sold in 87122; 67% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.