Is 87124, 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, 87124 has remained a Seller's Market.
Key Takeaway
87124 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87124, NM
How much do homes in 87124, NM cost?
Median Sold Price
$340,000
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 87124 have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in 87124 was $340,000 in March 2024, up 4.6% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | $142.5K | +11.3% |
| 2 Bedrooms | $228K | $246K | +7.9% |
| 3 Bedrooms | $310K | $325K | +4.8% |
| 4 Bedrooms | $406.6K | $446.5K | +9.8% |
| 5+ Bedrooms | $559.8K | $576K | +2.9% |
Summary: 87124 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 9.8%, and 5+ bedroom homes increased by 2.9%.
Housing Supply in 87124, NM
How many homes are available in 87124, NM?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 253 | 215 | -15.0% |
Summary: The 87124 real estate market had 215 homes for sale in March 2024, a 15.0% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 35 | 33 | -5.7% |
| 3 Bedrooms | 112 | 94 | -16.1% |
| 4 Bedrooms | 83 | 68 | -18.1% |
| 5+ Bedrooms | 21 | 19 | -9.5% |
Summary: The 87124 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 5.7%, 3 bedroom homes decreased by 16.1%, 4 bedroom homes decreased by 18.1%, and 5+ bedroom homes decreased by 9.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 56 | 64 | +14.3% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87124, you may be able to get a good deal. 48.4% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in 87124 in March 2024, up by 14.3% month-over-month. Of the 64 sold homes, 48% were sold under asking, 30% were sold at asking, and 22% were sold over asking.
Days on Market for 87124, NM
How long does it take to sell a home in 87124, NM?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 42 Days | 33 Days | -20.6% |
Summary: Homes in 87124 had an average of 33 days on market in Mar 2024, down by 20.6% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87124 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 64 homes were sold in 87124; 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.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.