Hobbs, NM Home Values & Market Trends
Real estate market trends reflect that there have been 559 transactions over the past year in Hobbs. The median value for residential home transactions that occurred over the previous year is $274,457. The number of current listings in Hobbs is 329, and the percentage of properties for sale in the city is 329.00%. Hobbs, NM currently has 17 properties in foreclosure, 9 bank owned properties, 8 properties headed for auction, and 329 properties for sale.
Hobbs, NM Real Estate Market Overview
Housing Market Summary for Hobbs, NM
| Oct 2025 | October 2026 | Change | |
|---|---|---|---|
| Median Listing Price | $175K | $195K | 11.43% |
| Median Sold Price | $192K | $197.2K | 2.72% |
| Homes For Sale | 249 | 328 | 31.73% |
| Homes Sold | 282 | 354 | 25.53% |
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 Hobbs, NM
Browse Homes in Hobbs, NM
Hobbs home values range from $41,962 to $1,002,139. The median estimated value of a home in Hobbs is $274,457. The median list price of a home is 195,000, and the total count of properties in the city is 716.
- Pre-ForeclosurePre-foreclosure homes account for 0% of all residential properties in Hobbs, NM with $[pre-foreclosures-highest-count-region] containing 0 pre-foreclosures, the highest number of pre-foreclosure properties in a single zip. There are 2 zips within Hobbs, NM; of those zips, 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 Hobbs, NM ranges from the highest value of $319,424 in 88240 to the lowest value of $111,634 in 88240. Bank owned homes and properties account for 1.26% of properties in Hobbs, NM. There are 2 zips within Hobbs, NM; 88240 containing 9 REO properties, has the highest number of bank owned properties in a single zip.
- Auctions88240 has 6 auction properties, the highest number of properties going to auction in a single zip in the state of Hobbs, NM. Auction homes and other auction properties account for 1.12% of all properties in Hobbs, NM. There are 2 zips within Hobbs, NM; of those zips, the median estimated home value for homes going to auction ranges from $206,940 in 88242 to the lowest value of $117,286 in 88242.
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More Real Estate Resources for Hobbs, NM
Guide for Hobbs, NM
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.
