$4,689 Closing Credit*
$394,900
1,060 SqFt
3 Beds
•2 Full Baths
Janet Frederick, Listing Office: RE/MAX Avante
Is Southwest, 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, Southwest has remained a Seller's Market.
Key Takeaway
Southwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southwest, NM
How much do homes in Southwest, NM cost?
Median Sold Price
$460,000
$313/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$5,000(-1.1%)
Key Takeaway
Homes in Southwest have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Southwest was $460,000 in November 2024, down 1.1% from last year, and the median price per square foot was $313.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $203.5K | $219K | +7.6% |
| 2 Bedrooms | $358.5K | $385K | +7.4% |
| 3 Bedrooms | $487K | $496.5K | +2.0% |
| 4 Bedrooms | $549.2K | $530K | -3.5% |
| 5+ Bedrooms | $705K | $750K | +6.4% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 3.5%, and 5+ bedroom homes increased by 6.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Southwest | $465K | $460K | -1.1% |
| Vista del Sol | $440K | $430K | -2.3% |
Housing Supply in Southwest, NM
How many homes are available in Southwest, NM?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 128 | 122 | -4.7% |
Summary: The Southwest real estate market had 122 homes for sale in November 2024, a 4.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 28 | 26 | -7.1% |
| 3 Bedrooms | 75 | 69 | -8.0% |
| 4 Bedrooms | 17 | 18 | +5.9% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes decreased by 8%, 4 bedroom homes increased by 5.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 24 | 24 | 0.0% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 73.9% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in Southwest in November 2024, the same as the previous month. Of the 23 sold homes, 74% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Southwest, NM
How long does it take to sell a home in Southwest, NM?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 41 Days | +27.9% |
Summary: Homes in Southwest had an average of 41 days on market in Nov 2024, up by 27.9% compared to last year.
Breakdown of Home Sale Times
16 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 Southwest are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 24 homes were sold in Southwest; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 21% 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.