Is Santa Fe County, 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, Santa Fe County has remained a Seller's Market.
Housing Prices in Santa Fe County, NM
How much do homes in Santa Fe County, NM cost?
Median Sold Price
$591,750
$351/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Santa Fe County was $591,750 in May 2024, up 2.6% from last year, and the median price per square foot was $351.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $304K | $325K | +6.9% |
2 Bedrooms | $466K | $500.1K | +7.3% |
3 Bedrooms | $590.9K | $606.9K | +2.7% |
4 Bedrooms | $749.9K | $770.8K | +2.8% |
5+ Bedrooms | $1.1M | $1.4M | +21.9% |
Summary: Santa Fe County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.9%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 21.9%.
Median Sold Price Compared To Nearby Counties
Torrance County | $182K | $234.2K | +28.7% |
Los Alamos County | $499.5K | $595.1K | +19.2% |
Bernalillo County | $320.1K | $343K | +7.2% |
Santa Fe County | $576.7K | $591.7K | +2.6% |
San Miguel County | $305K | $235K | -23.0% |
Housing Supply in Santa Fe County, NM
How many homes are available in Santa Fe County, NM?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
813 | 873 | +7.4% |
Summary: The Santa Fe County real estate market had 873 homes for sale in May 2024, a 7.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 32 | 41 | +28.1% |
2 Bedrooms | 170 | 183 | +7.6% |
3 Bedrooms | 407 | 426 | +4.7% |
4 Bedrooms | 154 | 169 | +9.7% |
5+ Bedrooms | 50 | 54 | +8.0% |
Summary: The Santa Fe County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.1%, 2 bedroom homes increased by 7.6%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
177 | 174 | -1.7% |
Asking Price vs. Sold Price
93 Homes Were Sold
Under Asking
42 Homes Were Sold
At Asking
39 Homes Were Sold
Over Asking
Summary: A total of 174 homes were sold or pending in Santa Fe County in May 2024, down by 1.7% month-over-month. Of the 174 sold homes, 53% were sold under asking, 24% were sold at asking, and 22% were sold over asking.
Days on Market for Santa Fe County, NM
How long does it take to sell a home in Santa Fe County, NM?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
47 Days | 32 Days | -32.2% |
Summary: Homes in Santa Fe County had an average of 32 days on market in May 2024, down by 32.2% compared to last year.
Breakdown of Home Sale Times
121 Homes Were Sold
Under 30 Days
38 Homes Were Sold
In 30 - 90 Days
15 Homes Were Sold
Over 90 Days
Summary: During May 2024, 174 homes were sold in Santa Fe County; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.