88240 Home Values & Market Trends
There are 250 homes currently listed for 88240. 88240 real estate market trends show that home prices range from $90,000 to $481,000, and the median sales price in the 88240 zip code is $270,053. The total number of properties sold within the past twelve months is 382. In 88240, 14 properties are in foreclosure, 10 are bank owned properties,and 4 are headed for auction.
88240 Real Estate Market Overview
| City | Median Est. Value |
|---|---|
| Hobbs | $ 280,047 $ 145/sqft |
Housing Market Summary for 88240
| Sep 2025 | September 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $160K | $190K | 18.75% |
| Median Sold Price | $192.3K | $152.1K | -20.92% |
| Homes For Sale | 200 | 245 | 22.50% |
| Homes Sold | 227 | 251 | 10.57% |
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 88240
Browse Homes in 88240
The median list price of a home in Hobbs, is $270,053. A total of 250 properties are for sale, and the percentage of properties for sale in the zip code is 250.00%. The total count of 88240 properties is 542.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in 88240 with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single city. There is 1 cities within 88240; of that cities, the estimated home value for pre-foreclosure homes ranges from $0 in N/A to the lowest home value of $0 in $[pre-foreclosures-lowest-avm-region].
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in 88240 ranges from the highest value of $318,260 in hobbs to the lowest value of $129,708 in hobbs. Bank owned homes and properties account for 1.85% of properties in 88240. There is 1 cities within 88240; hobbs containing 11 REO properties, has the highest number of bank owned properties in a single city.
- Auctionshobbs has 4 auction properties, the highest number of properties going to auction in a single city in the state of 88240. Auction homes and other auction properties account for 0.74% of all properties in 88240. There is 1 cities within 88240; of that cities, the median estimated home value for homes going to auction ranges from $395,000 in hobbs to the lowest value of $76,030 in hobbs.
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Guide for 88240
Foreclosure is a term that can sometimes lead to confusion for those looking to make a real estate investment. In simple terms, it refers to the process where a lender takes possession of a property after the owner fails to keep up with their mortgage payments. When it comes to land, this means that buyers […]
Descubre todo lo que necesitas saber sobre cómo comprar una casa en ejecución hipotecaria.
Learn how to buy a foreclosed home in Chicago, Illinois.
Tips to find a home in pre-foreclosure and get a good deal on a new home.