Is Valencia County, 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, Valencia County has remained a Seller's Market.
Housing Prices in Valencia County, NM
How much do homes in Valencia County, NM cost?
Median Sold Price
$295,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Valencia County was $295,000 in March 2024, up 3.8% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $172K | $33.7K | -80.4% |
2 Bedrooms | $205K | $221K | +7.8% |
3 Bedrooms | $265K | $284.9K | +7.5% |
4 Bedrooms | $354.9K | $329.9K | -7.1% |
5+ Bedrooms | $432K | $363.9K | -15.8% |
Summary: Valencia County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 80.4%, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 7.1%, and 5+ bedroom homes decreased by 15.8%.
Median Sold Price Compared To Nearby Counties
Torrance County | $186K | $233K | +25.3% |
Socorro County | $182.5K | $215K | +17.8% |
Bernalillo County | $319.9K | $339.9K | +6.3% |
Valencia County | $284.1K | $295K | +3.8% |
Housing Supply in Valencia County, NM
How many homes are available in Valencia County, NM?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
302 | 268 | -11.3% |
Summary: The Valencia County real estate market had 268 homes for sale in March 2024, a 11.3% decrease compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 1 | -50.0% |
2 Bedrooms | 24 | 27 | +12.5% |
3 Bedrooms | 196 | 164 | -16.3% |
4 Bedrooms | 67 | 65 | -3.0% |
5+ Bedrooms | 13 | 11 | -15.4% |
Summary: The Valencia County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 16.3%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 15.4%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
67 | 68 | +1.5% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
24 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Summary: A total of 68 homes were sold or pending in Valencia County in March 2024, up by 1.5% month-over-month. Of the 68 sold homes, 43% were sold under asking, 35% were sold at asking, and 22% were sold over asking.
Days on Market for Valencia County, NM
How long does it take to sell a home in Valencia County, NM?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
51 Days | 42 Days | -18.2% |
Summary: Homes in Valencia County had an average of 42 days on market in Mar 2024, down by 18.2% compared to last year.
Breakdown of Home Sale Times
39 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During March 2024, 68 homes were sold in Valencia County; 57% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.