Is 87113, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, 87113 has remained a Seller's Market.
Key Takeaway
87113 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87113, NM
How much do homes in 87113, NM cost?
Median Sold Price
$458,750
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 87113 have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in 87113 was $458,750 in May 2024, up 11.9% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $173.5K | $199K | +14.7% |
| 2 Bedrooms | $256K | $266K | +3.9% |
| 3 Bedrooms | $374.5K | $400K | +6.8% |
| 4 Bedrooms | $470.7K | $547.8K | +16.4% |
| 5+ Bedrooms | $661K | $568.5K | -14.0% |
Summary: 87113 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.7%, 2 bedroom homes increased by 3.9%, 3 bedroom homes increased by 6.8%, 4 bedroom homes increased by 16.4%, and 5+ bedroom homes decreased by 14%.
Housing Supply in 87113, NM
How many homes are available in 87113, NM?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 55 | 57 | +3.6% |
Summary: The 87113 real estate market had 57 homes for sale in May 2024, a 3.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 4 | -42.9% |
| 3 Bedrooms | 18 | 21 | +16.7% |
| 4 Bedrooms | 27 | 31 | +14.8% |
| 5+ Bedrooms | 2 | 0 | -100.0% |
Summary: The 87113 housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 42.9%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 17 | +112.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87113, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in 87113 in May 2024, up by 112.5% month-over-month. Of the 17 sold homes, 29% were sold under asking, 18% were sold at asking, and 53% were sold over asking.
Days on Market for 87113, NM
How long does it take to sell a home in 87113, NM?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 7 Days | 84 Days | +1003.4% |
Summary: Homes in 87113 had an average of 84 days on market in May 2024, up by 1003.4% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in 87113 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in 87113; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% 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.