$4,631 Closing Credit*
$390,000
1,865 SqFt
3 Beds
•2 Full Baths, 1 Partial
#1075097, David Cochrell, Listing Office: Ortiz Realty Services, LLC
Is 87123, 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, 87123 has remained a Seller's Market.
Key Takeaway
87123 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87123, NM
How much do homes in 87123, NM cost?
Median Sold Price
$321,937
$196/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,442(-0.8%)
Key Takeaway
Homes in 87123 have sold for 0.8% less than they did a year ago.
Summary: The median home sold price in 87123 was $321,937 in November 2024, down 0.8% from last year, and the median price per square foot was $196.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $281K | $312.5K | +11.2% |
| 2 Bedrooms | $245K | $269.9K | +10.2% |
| 3 Bedrooms | $307.2K | $300K | -2.4% |
| 4 Bedrooms | $440K | $436.5K | -0.8% |
| 5+ Bedrooms | $514.5K | $550.5K | +7.0% |
Summary: 87123 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 10.2%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes increased by 7%.
Housing Supply in 87123, NM
How many homes are available in 87123, NM?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 171 | 145 | -15.2% |
Summary: The 87123 real estate market had 145 homes for sale in November 2024, a 15.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 33 | 27 | -18.2% |
| 3 Bedrooms | 76 | 68 | -10.5% |
| 4 Bedrooms | 51 | 39 | -23.5% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The 87123 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 decreased by 18.2%, 3 bedroom homes decreased by 10.5%, 4 bedroom homes decreased by 23.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 35 | 32 | -8.6% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87123, you may be able to get a good deal. 43.8% of homes here sold below asking price last month.
Summary: A total of 32 homes were sold or pending in 87123 in November 2024, down by 8.6% month-over-month. Of the 32 sold homes, 44% were sold under asking, 34% were sold at asking, and 22% were sold over asking.
Days on Market for 87123, NM
How long does it take to sell a home in 87123, NM?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 31 Days | +34.8% |
Summary: Homes in 87123 had an average of 31 days on market in Nov 2024, up by 34.8% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87123 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 32 homes were sold in 87123; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% 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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