Is Socorro, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Socorro was a Buyer's Market.
Key Takeaway
Socorro is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Socorro, NM
How much do homes in Socorro, NM cost?
Median Sold Price
$217,000
$126/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Socorro have sold for 21.2% more than they did a year ago.
Summary: The median home sold price in Socorro was $217,000 in April 2024, up 21.2% from last year, and the median price per square foot was $126.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | - | N/A |
| 2 Bedrooms | $144.6K | $133K | -8.0% |
| 3 Bedrooms | $189.5K | $240K | +26.6% |
| 4 Bedrooms | $225K | $215K | -4.4% |
| 5+ Bedrooms | $200K | $270K | +35.0% |
Summary: Socorro 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 decreased by 8%, 3 bedroom homes increased by 26.6%, 4 bedroom homes decreased by 4.4%, and 5+ bedroom homes increased by 35%.
Housing Supply in Socorro, NM
How many homes are available in Socorro, NM?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 23 | 21 | -8.7% |
Summary: The Socorro real estate market had 21 homes for sale in April 2024, a 8.7% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 6 | 4 | -33.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Socorro housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 4 | 8 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Socorro, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in Socorro in April 2024, up by 100.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 13% were sold at asking, and 50% were sold over asking.
Days on Market for Socorro, NM
How long does it take to sell a home in Socorro, NM?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 93 Days | 59 Days | -35.6% |
Summary: Homes in Socorro had an average of 59 days on market in Apr 2024, down by 35.6% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Socorro are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 8 homes were sold in Socorro; 50% of homes were sold within 30 days, 25% 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.