Is 87801, 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, 87801 was a Buyer's Market.
Housing Prices in 87801, NM
How much do homes in 87801, NM cost?
Median Sold Price
$217,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 87801 was $217,000 in April 2024, up 20.9% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $235K | - | N/A |
2 Bedrooms | $144.6K | $133K | -8.0% |
3 Bedrooms | $199K | $240K | +20.6% |
4 Bedrooms | $225K | $215K | -4.4% |
5+ Bedrooms | $200K | $270K | +35.0% |
Summary: 87801 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 8%, 3 bedroom homes increased by 20.6%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes increased by 35%.
Housing Supply in 87801, NM
How many homes are available in 87801, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
24 | 21 | -12.5% |
Summary: The 87801 real estate market had 21 homes for sale in April 2024, a 12.5% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 1 | 2 | +100.0% |
3 Bedrooms | 14 | 11 | -21.4% |
4 Bedrooms | 6 | 4 | -33.3% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The 87801 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 21.4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 8 homes were sold or pending in 87801 in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for 87801, NM
How long does it take to sell a home in 87801, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
93 Days | 59 Days | -35.6% |
Summary: Homes in 87801 had an average of 59 days on market in Apr 2024, down by 35.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in 87801; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.