Is 87505, 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, 87505 has remained a Seller's Market.
Housing Prices in 87505, NM
How much do homes in 87505, NM cost?
Median Sold Price
$612,000
$379/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 87505 was $612,000 in April 2024, up 5.2% from last year, and the median price per square foot was $379.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $311.5K | $318.8K | +2.4% |
2 Bedrooms | $492.5K | $495K | 0.5% |
3 Bedrooms | $623K | $705K | +13.2% |
4 Bedrooms | $800K | $947.5K | +18.4% |
5+ Bedrooms | $1.4M | $1.3M | -4.5% |
Summary: 87505 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 13.2%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes decreased by 4.5%.
Housing Supply in 87505, NM
How many homes are available in 87505, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
149 | 152 | +2.0% |
Summary: The 87505 real estate market had 152 homes for sale in April 2024, a 2.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 12 | +9.1% |
2 Bedrooms | 45 | 46 | +2.2% |
3 Bedrooms | 56 | 56 | 0.0% |
4 Bedrooms | 21 | 23 | +9.5% |
5+ Bedrooms | 16 | 15 | -6.3% |
Summary: The 87505 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 2.2%, 3 bedroom homes remained the same, 4 bedroom homes increased by 9.5%, and 5+ bedroom homes decreased by 6.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
29 | 40 | +37.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in 87505 in April 2024, up by 37.9% month-over-month. Of the 40 sold homes, 53% were sold under asking, 23% were sold at asking, and 25% were sold over asking.
Days on Market for 87505, NM
How long does it take to sell a home in 87505, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 63 Days | +76.3% |
Summary: Homes in 87505 had an average of 63 days on market in Apr 2024, up by 76.3% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 40 homes were sold in 87505; 63% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.