$10,000 Closing Credit*
$2,500,000
2,150 SqFt
3 Beds
•2 Full Baths, 1 Partial
Cary Spier, Deborah Bodelson, Listing Office: Santa Fe Properties
Is 87506, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 87506 was a Seller's Market.
Key Takeaway
87506 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 87506, NM
How much do homes in 87506, NM cost?
Median Sold Price
$1,357,091
$471/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$32,091(+2.4%)
Key Takeaway
Homes in 87506 have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in 87506 was $1,357,091 in November 2024, up 2.4% from last year, and the median price per square foot was $471.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $376K | $451K | +19.9% |
| 2 Bedrooms | $622.5K | $716K | +15.0% |
| 3 Bedrooms | $1.3M | $1.3M | +3.4% |
| 4 Bedrooms | $1.7M | $1.6M | -0.1% |
| 5+ Bedrooms | $2.1M | $1.7M | -19.3% |
Summary: 87506 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 19.9%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 19.3%.
Housing Supply in 87506, NM
How many homes are available in 87506, NM?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 157 | 158 | +0.6% |
Summary: The 87506 real estate market had 158 homes for sale in November 2024, a 0.6% increase 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 | 18 | 16 | -11.1% |
| 3 Bedrooms | 78 | 73 | -6.4% |
| 4 Bedrooms | 40 | 45 | +12.5% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The 87506 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 11.1%, 3 bedroom homes decreased by 6.4%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87506, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 87506 in November 2024, down by 11.8% month-over-month. Of the 15 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for 87506, NM
How long does it take to sell a home in 87506, NM?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 71 Days | 88 Days | +23.7% |
Summary: Homes in 87506 had an average of 88 days on market in Nov 2024, up by 23.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87506 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in 87506; 47% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 33% 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. 
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