$8,016 Closing Credit*
$675,000
3,009 SqFt
4 Beds
•3 Full Baths
The Hellmann Group, Listing Office: Keller Williams Realty
Is 87508, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, 87508 has remained a Seller's Market.
Key Takeaway
87508 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 87508, NM
How much do homes in 87508, NM cost?
Median Sold Price
$651,666
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$13,333(-2.0%)
Key Takeaway
Homes in 87508 have sold for 2% less than they did a year ago.
Summary: The median home sold price in 87508 was $651,666 in October 2024, down 2% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $237.5K | $665K | +180.0% |
| 2 Bedrooms | $547.8K | $491.2K | -10.3% |
| 3 Bedrooms | $650K | $655K | +0.8% |
| 4 Bedrooms | $799K | $801K | 0.3% |
| 5+ Bedrooms | $1.0M | $875K | -15.9% |
Summary: 87508 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 180%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 15.9%.
Median Sold Price Compared To Nearby Zip Codes
| 87505 | $600K | $589.8K | -1.7% |
| 87508 | $665K | $651.6K | -2.0% |
Housing Supply in 87508, NM
How many homes are available in 87508, NM?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 152 | 154 | +1.3% |
Summary: The 87508 real estate market had 154 homes for sale in October 2024, a 1.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 12 | +9.1% |
| 3 Bedrooms | 96 | 99 | +3.1% |
| 4 Bedrooms | 41 | 37 | -9.8% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 87508 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 increased by 9.1%, 3 bedroom homes increased by 3.1%, 4 bedroom homes decreased by 9.8%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 36 | +44.0% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 87508, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in 87508 in October 2024, up by 44.0% month-over-month. Of the 36 sold homes, 44% were sold under asking, 33% were sold at asking, and 22% were sold over asking.
Days on Market for 87508, NM
How long does it take to sell a home in 87508, NM?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 33 Days | -18.3% |
Summary: Homes in 87508 had an average of 33 days on market in Oct 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 87508 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 36 homes were sold in 87508; 53% of homes were sold within 30 days, 42% 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 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.