$8,016 Closing Credit*
$675,000
1,444 SqFt
3 Beds
•2 Full Baths
Benjamin Tercero, Listing Office: Keller Williams Realty
Is 87501, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 87501 was a Seller's Market.
Key Takeaway
87501 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 87501, NM
How much do homes in 87501, NM cost?
Median Sold Price
$805,000
$490/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$76,125(+10.4%)
Key Takeaway
Homes in 87501 have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in 87501 was $805,000 in October 2024, up 10.4% from last year, and the median price per square foot was $490.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $387.5K | -6.6% |
| 2 Bedrooms | $629K | $665K | +5.7% |
| 3 Bedrooms | $846.2K | $975K | +15.2% |
| 4 Bedrooms | $1.3M | $1.3M | -2.2% |
| 5+ Bedrooms | $2.4M | $2.6M | +7.4% |
Summary: 87501 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.6%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes increased by 7.4%.
Housing Supply in 87501, NM
How many homes are available in 87501, NM?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 172 | 165 | -4.1% |
Summary: The 87501 real estate market had 165 homes for sale in October 2024, a 4.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 20 | 0.0% |
| 2 Bedrooms | 50 | 42 | -16.0% |
| 3 Bedrooms | 72 | 69 | -4.2% |
| 4 Bedrooms | 21 | 22 | +4.8% |
| 5+ Bedrooms | 9 | 12 | +33.3% |
Summary: The 87501 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16%, 3 bedroom homes decreased by 4.2%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 27 | +8.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87501, you may be able to get a good deal. 70.4% of homes here sold below asking price last month.
Summary: A total of 27 homes were sold or pending in 87501 in October 2024, up by 8.0% month-over-month. Of the 27 sold homes, 70% were sold under asking, 19% were sold at asking, and 11% were sold over asking.
Days on Market for 87501, NM
How long does it take to sell a home in 87501, NM?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 62 Days | +180.8% |
Summary: Homes in 87501 had an average of 62 days on market in Oct 2024, up by 180.8% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87501 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 27 homes were sold in 87501; 48% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
The data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. 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. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 
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.