Is 87122, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, 87122 has remained a Seller's Market.
Housing Prices in 87122, NM
How much do homes in 87122, NM cost?
Median Sold Price
$737,442
$254/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in 87122 was $737,442 in April 2024, up 8.4% from last year, and the median price per square foot was $254.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $570K | N/A |
2 Bedrooms | $375K | $416.5K | +11.1% |
3 Bedrooms | $518.1K | $622.5K | +20.1% |
4 Bedrooms | $775K | $827.5K | +6.8% |
5+ Bedrooms | $952.4K | $1.1M | +15.5% |
Summary: 87122 housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 20.1%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 15.5%.
Housing Supply in 87122, NM
How many homes are available in 87122, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
74 | 68 | -8.1% |
Summary: The 87122 real estate market had 68 homes for sale in April 2024, a 8.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 5 | 3 | -40.0% |
3 Bedrooms | 24 | 20 | -16.7% |
4 Bedrooms | 30 | 33 | +10.0% |
5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The 87122 housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 40%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
21 | 22 | +4.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in 87122 in April 2024, up by 4.8% month-over-month. Of the 22 sold homes, 55% were sold under asking, 9% were sold at asking, and 36% were sold over asking.
Days on Market for 87122, NM
How long does it take to sell a home in 87122, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
24 Days | 17 Days | -29.8% |
Summary: Homes in 87122 had an average of 17 days on market in Apr 2024, down by 29.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 22 homes were sold in 87122; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.