$2,731 Closing Credit*
$230,000
1,111 SqFt
3 Beds
•1 Bath
#1075165, Ivonne Ponce, Listing Office: Ponce Realty of New Mexico
Is 87121, 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, 87121 has remained a Seller's Market.
Key Takeaway
87121 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87121, NM
How much do homes in 87121, NM cost?
Median Sold Price
$280,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,000(+5.7%)
Key Takeaway
Homes in 87121 have sold for 5.7% more than they did a year ago.
Summary: The median home sold price in 87121 was $280,000 in November 2024, up 5.7% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $105K | N/A |
| 2 Bedrooms | $225.5K | $239.9K | +6.4% |
| 3 Bedrooms | $260K | $275K | +5.8% |
| 4 Bedrooms | $285K | $309K | +8.4% |
| 5+ Bedrooms | $348.5K | $338.3K | -2.9% |
Summary: 87121 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes decreased by 2.9%.
Housing Supply in 87121, NM
How many homes are available in 87121, NM?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 183 | 160 | -12.6% |
Summary: The 87121 real estate market had 160 homes for sale in November 2024, a 12.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 103 | 99 | -3.9% |
| 4 Bedrooms | 67 | 47 | -29.9% |
| 5+ Bedrooms | 6 | 4 | -33.3% |
Summary: The 87121 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes decreased by 29.9%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 48 | 38 | -20.8% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87121, expect to pay close to the asking price. 44.7% of homes here sold near the asking price last month.
Summary: A total of 38 homes were sold or pending in 87121 in November 2024, down by 20.8% month-over-month. Of the 38 sold homes, 32% were sold under asking, 45% were sold at asking, and 24% were sold over asking.
Days on Market for 87121, NM
How long does it take to sell a home in 87121, NM?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 28 Days | +28.7% |
Summary: Homes in 87121 had an average of 28 days on market in Nov 2024, up by 28.7% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87121 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 38 homes were sold in 87121; 63% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 5% 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.