Is 87501, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 87501 has remained a Seller's Market.
Housing Prices in 87501, NM
How much do homes in 87501, NM cost?
Median Sold Price
$788,333
$482/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 87501 was $788,333 in April 2024, up 6% from last year, and the median price per square foot was $482.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $383K | $387K | +1.0% |
2 Bedrooms | $624K | $665K | +6.6% |
3 Bedrooms | $890K | $965K | +8.4% |
4 Bedrooms | $1.3M | $1.3M | -2.1% |
5+ Bedrooms | $2.4M | $2.4M | +1.7% |
Summary: 87501 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1%, 2 bedroom homes increased by 6.6%, 3 bedroom homes increased by 8.4%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 1.7%.
Housing Supply in 87501, NM
How many homes are available in 87501, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
117 | 145 | +23.9% |
Summary: The 87501 real estate market had 145 homes for sale in April 2024, a 23.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 8 | 9 | +12.5% |
2 Bedrooms | 39 | 50 | +28.2% |
3 Bedrooms | 42 | 55 | +31.0% |
4 Bedrooms | 18 | 21 | +16.7% |
5+ Bedrooms | 10 | 10 | 0.0% |
Summary: The 87501 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 28.2%, 3 bedroom homes increased by 31%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
13 | 28 | +115.4% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 28 homes were sold or pending in 87501 in April 2024, up by 115.4% month-over-month. Of the 28 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for 87501, NM
How long does it take to sell a home in 87501, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
109 Days | 45 Days | -58.3% |
Summary: Homes in 87501 had an average of 45 days on market in Apr 2024, down by 58.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During April 2024, 28 homes were sold in 87501; 68% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.