Is 87506, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 87506 was a Seller's Market.
Housing Prices in 87506, NM
How much do homes in 87506, NM cost?
Median Sold Price
$1,350,000
$455/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Summary: The median home sold price in 87506 was $1,350,000 in March 2024, the same as last year, and the median price per square foot was $455.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $375K | $376K | 0.3% |
2 Bedrooms | $701.2K | $675K | -3.7% |
3 Bedrooms | $1.3M | $1.3M | -1.9% |
4 Bedrooms | $1.5M | $1.6M | +8.7% |
5+ Bedrooms | $1.8M | $2.1M | +18.5% |
Summary: 87506 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.3%, 2 bedroom homes decreased by 3.7%, 3 bedroom homes decreased by 1.9%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 18.5%.
Housing Supply in 87506, NM
How many homes are available in 87506, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
107 | 118 | +10.3% |
Summary: The 87506 real estate market had 118 homes for sale in March 2024, a 10.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 1 | +100.0% |
2 Bedrooms | 15 | 14 | -6.7% |
3 Bedrooms | 58 | 63 | +8.6% |
4 Bedrooms | 22 | 26 | +18.2% |
5+ Bedrooms | 12 | 14 | +16.7% |
Summary: The 87506 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
16 | 16 | 0.0% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 87506 in March 2024, the same as the previous month. Of the 16 sold homes, 81% were sold under asking, 13% were sold at asking, and 6% were sold over asking.
Days on Market for 87506, NM
How long does it take to sell a home in 87506, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
61 Days | 111 Days | +81.1% |
Summary: Homes in 87506 had an average of 111 days on market in Mar 2024, up by 81.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in 87506; 31% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.