Is Sandoval County, NM a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Sandoval County is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Sandoval County has remained a Seller's Market.

Key Takeaway

Sandoval County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Sandoval County, NM

How much do homes in Sandoval County, NM cost?

Median Sold Price

$369,612

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$19,653(+5.6%)

Key Takeaway

Homes in Sandoval County have sold for 5.6% more than they did a year ago.

Summary: The median home sold price in Sandoval County was $369,612 in February 2024, up 5.6% from last year, and the median price per square foot was $206.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $168.5K$146K
-13.4%
2 $225.4K$249K
+10.4%
3 $328.3K$345K
+5.1%
4 $415.1K$440K
+6.0%
5+ $545.8K$560K
+2.6%

Summary: Sandoval County housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.4%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 6%, and 5+ bedroom homes increased by 2.6%.

Median Sold Price Compared To Nearby Counties

Los Alamos County
+19.0%
Bernalillo County
+6.4%
Sandoval County
+5.6%
Santa Fe County
+2.3%

Housing Supply in Sandoval County, NM

How many homes are available in Sandoval County, NM?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
627573-8.6%

Summary: The Sandoval County real estate market had 573 homes for sale in February 2024, a 8.6% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 34
+33.3%
2 6651
-22.7%
3 326288
-11.7%
4 192190
-1.0%
5+ 4040
0.0%

Summary: The Sandoval County housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 22.7%, 3 bedroom homes decreased by 11.7%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
113141+24.8%

Asking Price vs. Sold Price

66 Homes Were Sold
Under Asking

42 Homes Were Sold
At Asking

33 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Sandoval County, you may be able to get a good deal. 46.8% of homes here sold below asking price last month.

Summary: A total of 141 homes were sold or pending in Sandoval County in February 2024, up by 24.8% month-over-month. Of the 141 sold homes, 47% were sold under asking, 30% were sold at asking, and 23% were sold over asking.

Days on Market for Sandoval County, NM

How long does it take to sell a home in Sandoval County, NM?

Average Sale Time

Feb 2023Feb 2024CHANGE
41 Days43 Days+5.6%

Summary: Homes in Sandoval County had an average of 43 days on market in Feb 2024, up by 5.6% compared to last year.

Breakdown of Home Sale Times

76 Homes Were Sold
Under 30 Days

46 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Sandoval County are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 141 homes were sold in Sandoval County; 54% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Sandoval County, NM

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