Is 87108, NM a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 87108 is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, 87108 has remained a Seller's Market.

Key Takeaway

87108 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 87108, NM

How much do homes in 87108, NM cost?

Median Sold Price

$295,900

$188/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$21,650(+7.9%)

Key Takeaway

Homes in 87108 have sold for 7.9% more than they did a year ago.

Summary: The median home sold price in 87108 was $295,900 in November 2024, up 7.9% from last year, and the median price per square foot was $188.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $253.5K$275K
+8.5%
2 $274K$269.2K
-1.7%
3 $265K$299.5K
+13.0%
4 $355K$380K
+7.0%
5+ $405K$659.5K
+62.8%

Summary: 87108 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.5%, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 62.8%.

Median Sold Price Compared To Nearby Zip Codes

87108
+7.9%
87110
+6.7%
87112
+6.7%
87106
+2.5%

Housing Supply in 87108, NM

How many homes are available in 87108, NM?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
155154-0.6%

Summary: The 87108 real estate market had 154 homes for sale in November 2024, a 0.6% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1517
+13.3%
2 5858
0.0%
3 6461
-4.7%
4 1514
-6.7%
5+ 34
+33.3%

Summary: The 87108 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.3%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 4.7%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
27270.0%

Asking Price vs. Sold Price

16 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer59%26%15%

Key Takeaway

If you're buying a home in 87108, you may be able to get a good deal. 59.3% of homes here sold below asking price last month.

Summary: A total of 27 homes were sold or pending in 87108 in November 2024, the same as the previous month. Of the 27 sold homes, 59% were sold under asking, 26% were sold at asking, and 15% were sold over asking.

Days on Market for 87108, NM

How long does it take to sell a home in 87108, NM?

Average Sale Time

Nov 2023Nov 2024CHANGE
31 Days55 Days+74.1%

Summary: Homes in 87108 had an average of 55 days on market in Nov 2024, up by 74.1% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times44%37%19%

Key Takeaway

Avg time on Rocket Homes in 87108 has remained consistent over time.

Summary: During November 2024, 27 homes were sold in 87108; 37% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 21 Days Ago

Newest Listings in 87108, NM

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