$4,976 Closing Credit*
$419,000
2,360 SqFt
4 Beds
•2 Full Baths, 1 Partial
#1075377, Thomas J Mestas, Listing Office: The M Real Estate Group
Is 87114, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, 87114 has remained a Seller's Market.
Key Takeaway
87114 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87114, NM
How much do homes in 87114, NM cost?
Median Sold Price
$365,000
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$12,625(+3.6%)
Key Takeaway
Homes in 87114 have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in 87114 was $365,000 in November 2024, up 3.6% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $168.6K | $171.2K | +1.5% |
| 2 Bedrooms | $257K | $280K | +8.9% |
| 3 Bedrooms | $327K | $340K | +4.0% |
| 4 Bedrooms | $385K | $397.2K | +3.2% |
| 5+ Bedrooms | $487.5K | $453K | -7.1% |
Summary: 87114 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.5%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes decreased by 7.1%.
Housing Supply in 87114, NM
How many homes are available in 87114, NM?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 270 | 225 | -16.7% |
Summary: The 87114 real estate market had 225 homes for sale in November 2024, a 16.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 11 | 5 | -54.5% |
| 3 Bedrooms | 143 | 115 | -19.6% |
| 4 Bedrooms | 86 | 81 | -5.8% |
| 5+ Bedrooms | 29 | 24 | -17.2% |
Summary: The 87114 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 54.5%, 3 bedroom homes decreased by 19.6%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 17.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 77 | 44 | -42.9% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87114, you may be able to get a good deal. 47.7% of homes here sold below asking price last month.
Summary: A total of 44 homes were sold or pending in 87114 in November 2024, down by 42.9% month-over-month. Of the 44 sold homes, 48% were sold under asking, 36% were sold at asking, and 16% were sold over asking.
Days on Market for 87114, NM
How long does it take to sell a home in 87114, NM?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 19 Days | 31 Days | +57.2% |
Summary: Homes in 87114 had an average of 31 days on market in Nov 2024, up by 57.2% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in 87114 has remained consistent over time.
Summary: During November 2024, 44 homes were sold in 87114; 48% of homes were sold within 30 days, 52% of homes were sold within 30 to 90 days, and 0% 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. 
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