Is Belen, 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, Belen has remained a Seller's Market.
Housing Prices in Belen, NM
How much do homes in Belen, NM cost?
Median Sold Price
$269,900
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Belen was $269,900 in May 2024, up 5.5% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $94K | - | N/A |
2 Bedrooms | $155K | $185K | +19.4% |
3 Bedrooms | $259.9K | $267.9K | +3.1% |
4 Bedrooms | $300K | $315K | +5.0% |
5+ Bedrooms | $339.9K | $329.9K | -2.9% |
Summary: Belen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 2.9%.
Housing Supply in Belen, NM
How many homes are available in Belen, NM?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
99 | 90 | -9.1% |
Summary: The Belen real estate market had 90 homes for sale in May 2024, a 9.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 66 | 60 | -9.1% |
4 Bedrooms | 20 | 17 | -15.0% |
5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Belen 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 12.5%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
17 | 16 | -5.9% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 16 homes were sold or pending in Belen in May 2024, down by 5.9% month-over-month. Of the 16 sold homes, 25% were sold under asking, 63% were sold at asking, and 13% were sold over asking.
Days on Market for Belen, NM
How long does it take to sell a home in Belen, NM?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
82 Days | 48 Days | -40.8% |
Summary: Homes in Belen had an average of 48 days on market in May 2024, down by 40.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 16 homes were sold in Belen; 63% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.