$159,075
Land
Bricena K Aragon, Listing Office: Keller Williams Realty
Is Belen, 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, Belen has remained a Neutral Market.
Key Takeaway
Belen 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 Belen, NM
How much do homes in Belen, NM cost?
Median Sold Price
$272,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,800(+3.7%)
Key Takeaway
Homes in Belen have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Belen was $272,000 in October 2024, up 3.7% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94K | - | N/A |
| 2 Bedrooms | $190K | $172.5K | -9.2% |
| 3 Bedrooms | $261.9K | $269K | +2.7% |
| 4 Bedrooms | $306.9K | $318K | +3.6% |
| 5+ Bedrooms | $338.9K | $335K | -1.2% |
Summary: Belen housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 9.2%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes decreased by 1.2%.
Housing Supply in Belen, NM
How many homes are available in Belen, NM?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 87 | 81 | -6.9% |
Summary: The Belen real estate market had 81 homes for sale in October 2024, a 6.9% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 56 | 52 | -7.1% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Belen 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 28.6%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 13 | -7.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Belen, expect to pay close to the asking price. 69.2% of homes here sold near the asking price last month.
Summary: A total of 13 homes were sold or pending in Belen in October 2024, down by 7.1% month-over-month. Of the 13 sold homes, 23% were sold under asking, 69% were sold at asking, and 8% were sold over asking.
Days on Market for Belen, NM
How long does it take to sell a home in Belen, NM?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 78 Days | +55.0% |
Summary: Homes in Belen had an average of 78 days on market in Oct 2024, up by 55% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Belen are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 13 homes were sold in Belen; 31% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 38% 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.