Is Belen, 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, Belen has remained a Seller's Market.
Housing Prices in Belen, NM
How much do homes in Belen, NM cost?
Median Sold Price
$269,900
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Belen was $269,900 in March 2024, up 6.3% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $94K | $30K | -68.1% |
2 Bedrooms | $149.4K | $175.5K | +17.4% |
3 Bedrooms | $255.9K | $267.4K | +4.5% |
4 Bedrooms | $305.9K | $321.9K | +5.2% |
5+ Bedrooms | $357.5K | $336.9K | -5.8% |
Summary: Belen housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 68.1%, 2 bedroom homes increased by 17.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes decreased by 5.8%.
Housing Supply in Belen, NM
How many homes are available in Belen, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
73 | 72 | -1.4% |
Summary: The Belen real estate market had 72 homes for sale in March 2024, a 1.4% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 5 | 6 | +20.0% |
3 Bedrooms | 47 | 45 | -4.3% |
4 Bedrooms | 19 | 18 | -5.3% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Belen 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 increased by 20%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 17 | +21.4% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Belen in March 2024, up by 21.4% month-over-month. Of the 17 sold homes, 24% were sold under asking, 47% were sold at asking, and 29% were sold over asking.
Days on Market for Belen, NM
How long does it take to sell a home in Belen, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
85 Days | 65 Days | -22.7% |
Summary: Homes in Belen had an average of 65 days on market in Mar 2024, down by 22.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Summary: During March 2024, 17 homes were sold in Belen; 35% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 35% of homes were sold over 90 days.