Is Socorro County, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
At the same time last year, Socorro County was a Seller's Market.
Key Takeaway
Socorro County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Socorro County, NM
How much do homes in Socorro County, NM cost?
Median Sold Price
$195,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Socorro County have sold for 8.3% more than they did a year ago.
Summary: The median home sold price in Socorro County was $195,000 in June 2024, up 8.3% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $169K | $65K | -61.5% |
| 2 Bedrooms | $146.5K | $136.5K | -6.8% |
| 3 Bedrooms | $202.5K | $255K | +25.9% |
| 4 Bedrooms | $225K | $217.5K | -3.3% |
| 5+ Bedrooms | $247.5K | $270K | +9.1% |
Summary: Socorro County housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 61.5%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 25.9%, 4 bedroom homes decreased by 3.3%, and 5+ bedroom homes increased by 9.1%.
Median Sold Price Compared To Nearby Counties
| Torrance County | $178K | $235K | +32.0% |
| Socorro County | $180K | $195K | +8.3% |
| Valencia County | $286.4K | $295.5K | +3.2% |
Housing Supply in Socorro County, NM
How many homes are available in Socorro County, NM?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 36 | 39 | +8.3% |
Summary: The Socorro County real estate market had 39 homes for sale in June 2024, a 8.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 4 | +33.3% |
| 2 Bedrooms | 8 | 11 | +37.5% |
| 3 Bedrooms | 19 | 18 | -5.3% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 1 | -50.0% |
Summary: The Socorro County housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes increased by 37.5%, 3 bedroom homes decreased by 5.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 1 | 4 | +300.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Socorro County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Socorro County in June 2024, up by 300.0% month-over-month. Of the 4 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Socorro County, NM
How long does it take to sell a home in Socorro County, NM?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 67 Days | 38 Days | -43.1% |
Summary: Homes in Socorro County had an average of 38 days on market in Jun 2024, down by 43.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Socorro County are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 4 homes were sold in Socorro County; 75% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. 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. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed. 
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.