Is 87540, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, 87540 was a Buyer's Market.
Housing Prices in 87540, NM
How much do homes in 87540, NM cost?
Median Sold Price
$930,000
$408/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 87540 was $930,000 in April 2024, up 9.6% from last year, and the median price per square foot was $408.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $698.7K | $293.7K | -58.0% |
2 Bedrooms | $465K | $695K | +49.5% |
3 Bedrooms | $923.5K | $970K | +5.0% |
4 Bedrooms | $1.0M | $1.0M | -6.7% |
5+ Bedrooms | $1.3M | $1.6M | +23.0% |
Summary: 87540 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 58%, 2 bedroom homes increased by 49.5%, 3 bedroom homes increased by 5%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 23%.
Median Sold Price Compared To Nearby Zip Codes
87540 | $848.2K | $930K | +9.6% |
87508 | $637.2K | $665K | +4.4% |
Housing Supply in 87540, NM
How many homes are available in 87540, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 11 | +83.3% |
Summary: The 87540 real estate market had 11 homes for sale in April 2024, a 83.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 2 | 4 | +100.0% |
4 Bedrooms | 1 | 2 | +100.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 87540 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 3 homes were sold or pending in 87540 in April 2024, up by 100.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for 87540, NM
How long does it take to sell a home in 87540, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 124 Days | +418.1% |
Summary: Homes in 87540 had an average of 124 days on market in Apr 2024, up by 418.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 3 homes were sold in 87540; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.