New Mexico Home Values & Market Trends
There have been 24,733 properties sold in the New Mexico real estate market trends. Median home values in the New Mexico housing market are $295,136.21. The median residential home value for transactions over the last 12 months is 151,729.576. The State of New Mexico currently has 547 properties in foreclosure, 116 bank owned properties, and 121 headed for auction.
New Mexico Real Estate Market Overview
| County | Median Est. Value | County | Median Est. Value |
|---|---|---|---|
| Bernalillo | $ 365,091 $ 200/sqft | Quay | $ 179,000 $ 109/sqft |
| Sandoval | $ 410,604 $ 205/sqft | Mckinley | $ 174,900 $ 118/sqft |
| Otero | $ 240,104 $ 135/sqft | Torrance | $ 210,000 $ 135/sqft |
| Valencia | $ 301,638 $ 167/sqft | Cibola | $ 106,681 $ 104/sqft |
| San Juan | $ 300,307 $ 162/sqft | San Miguel | $ 189,124 $ 148/sqft |
| Santa Fe | $ 550,855 $ 315/sqft | Socorro | $ 152,396 $ 120/sqft |
| Chaves | $ 251,988 $ 124/sqft | Los Alamos | $ 421,313 $ 218/sqft |
| Curry | $ 227,375 $ 103/sqft | Catron | $ 220,428 $ 178/sqft |
| Grant | $ 279,517 $ 146/sqft | Hidalgo | $ -- $ -- |
| Colfax | $ 320,223 $ 252/sqft | Guadalupe | $ -- $ -- |
| Roosevelt | $ 181,758 $ 109/sqft | Rio Arriba | $ 590,468 $ 175/sqft |
| Lea | $ 277,149 $ 137/sqft | De Baca | $ -- $ -- |
| Taos | $ 695,000 $ 407/sqft | Doña Ana | $ -- $ -- |
| Lincoln | $ 598,215 $ 273/sqft | Harding | $ -- $ -- |
| Luna | $ 201,136 $ 228/sqft | Union | $ -- $ -- |
| Sierra | $ 199,999 $ 141/sqft | Mora | $ -- $ -- |
| Eddy | $ 220,482 $ 143/sqft |
Housing Market Summary for New Mexico
| Apr 2023 | March 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $325K | $303.8K | -6.52% |
| Median Sold Price | $291.2K | $303.8K | 4.34% |
| Homes For Sale | 2,293 | 2,799 | 22.07% |
| Homes Sold | 12,849 | 12,047 | -6.24% |
Price Per Square Foot
On an average, Single Family homes cost $33 more per sqft than Condos. In comparison with sales price/sqft last week, list price/sqft of Single Family homes increased by 1.93% whereas, list price/sqft of Condos increased by 9.38%.
Recently Sold Homes
Explore recent offers and recently sold homes in New Mexico
Browse Homes in New Mexico
There are currently 3,045 properties for sale in New Mexico. The current home value ranges in price from 20,000 to 9,000,000. The total count of properties in the state is 761,554, and the percentage of properties for sale is 3045.00%.
- Pre-ForeclosurePre-foreclosure homes account for 0.04% of all residential properties in New Mexico with Bernalillo containing 174 pre-foreclosures, the highest number of pre-foreclosure properties in a single county. There are 33 counties within New Mexico; of those counties, the estimated home value for pre-foreclosure homes ranges from $939,629 in Socorro to the lowest home value of $90,042 in Eddy.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in New Mexico ranges from the highest value of $840,136 in Catron to the lowest value of $30,000 in Cibola. Bank owned homes and properties account for 0.02% of properties in New Mexico. There are 33 counties within New Mexico; Bernalillo containing 30 REO properties, has the highest number of bank owned properties in a single county.
- AuctionsBernalillo has 35 auction properties, the highest number of properties going to auction in a single county in the state of New Mexico. Auction homes and other auction properties account for 0.02% of all properties in New Mexico. There are 33 counties within New Mexico; of those counties, the median estimated home value for homes going to auction ranges from $482,750 in Grant to the lowest value of $62,728 in Grant.
Compare Nearby Cities
More Real Estate Resources for New Mexico
Guide for New Mexico
This article describes the fluctuating real estate market of Santa Fe and neighboring cities from July 2023 to March 2024, focusing on property values, sale prices, and number of sold homes.
Learn more about the New Mexico foreclosure laws, the NM judicial foreclosure process and timelines on RealtyTrac
Learn how a short sale can stop the foreclosure process.
Learn effective strategies to safeguard your credit score after experiencing a foreclosure.
