Is 87508, 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, 87508 has remained a Seller's Market.
Housing Prices in 87508, NM
How much do homes in 87508, NM cost?
Median Sold Price
$665,000
$343/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 87508 was $665,000 in March 2024, up 4.7% from last year, and the median price per square foot was $343.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $440K | $237.5K | -46.0% |
2 Bedrooms | $526K | $520.7K | -1.0% |
3 Bedrooms | $648.7K | $659.5K | +1.7% |
4 Bedrooms | $749K | $812.5K | +8.5% |
5+ Bedrooms | $999.9K | $949.9K | -5.0% |
Summary: 87508 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes decreased by 5%.
Median Sold Price Compared To Nearby Zip Codes
87508 | $635K | $665K | +4.7% |
87505 | $580K | $597.6K | +3.0% |
Housing Supply in 87508, NM
How many homes are available in 87508, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
88 | 84 | -4.5% |
Summary: The 87508 real estate market had 84 homes for sale in March 2024, a 4.5% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 12 | 8 | -33.3% |
3 Bedrooms | 58 | 54 | -6.9% |
4 Bedrooms | 13 | 18 | +38.5% |
5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The 87508 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 decreased by 33.3%, 3 bedroom homes decreased by 6.9%, 4 bedroom homes increased by 38.5%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
28 | 16 | -42.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 16 homes were sold or pending in 87508 in March 2024, down by 42.9% month-over-month. Of the 16 sold homes, 63% were sold under asking, 31% were sold at asking, and 6% were sold over asking.
Days on Market for 87508, NM
How long does it take to sell a home in 87508, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
68 Days | 80 Days | +16.6% |
Summary: Homes in 87508 had an average of 80 days on market in Mar 2024, up by 16.6% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During March 2024, 16 homes were sold in 87508; 56% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.