Is 87544, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, 87544 has remained a Seller's Market.
Key Takeaway
87544 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87544, NM
How much do homes in 87544, NM cost?
Median Sold Price
$557,000
$285/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in 87544 have sold for 17.3% more than they did a year ago.
Summary: The median home sold price in 87544 was $557,000 in November 2023, up 17.3% from last year, and the median price per square foot was $285.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $305K | +69.4% |
| 2 Bedrooms | $315K | $433K | +37.5% |
| 3 Bedrooms | $460K | $538K | +17.0% |
| 4 Bedrooms | $589.5K | $722.5K | +22.6% |
| 5+ Bedrooms | $700K | $655K | -6.4% |
Summary: 87544 housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 69.4%, 2 bedroom homes increased by 37.5%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes decreased by 6.4%.
Housing Supply in 87544, NM
How many homes are available in 87544, NM?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 79 | 71 | -10.1% |
Summary: The 87544 real estate market had 71 homes for sale in November 2023, a 10.1% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 0 | -100.0% |
| 2 Bedrooms | 8 | 10 | +25.0% |
| 3 Bedrooms | 29 | 25 | -13.8% |
| 4 Bedrooms | 27 | 26 | -3.7% |
| 5+ Bedrooms | 11 | 10 | -9.1% |
Summary: The 87544 housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes decreased by 3.7%, and 5+ bedroom homes decreased by 9.1%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 27 | 28 | +3.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87544, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.
Summary: A total of 28 homes were sold or pending in 87544 in November 2023, up by 3.7% month-over-month. Of the 28 sold homes, 18% were sold under asking, 11% were sold at asking, and 71% were sold over asking.
Days on Market for 87544, NM
How long does it take to sell a home in 87544, NM?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 14 Days | 27 Days | +85.2% |
Summary: Homes in 87544 had an average of 27 days on market in Nov 2023, up by 85.2% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 87544 are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 28 homes were sold in 87544; 86% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.