New Mexico Home Values & Market Trends
There have been 21,910 properties sold in the New Mexico real estate market trends. Median home values in the New Mexico housing market are $305,914.39. The median residential home value for transactions over the last 12 months is 168,270.938. The State of New Mexico currently has 491 properties in foreclosure, 116 bank owned properties, and 123 headed for auction.
New Mexico Real Estate Market Overview
| County | Median Est. Value | County | Median Est. Value |
|---|---|---|---|
| Bernalillo | $ 364,950 $ 205/sqft | Quay | $ 160,999 $ 93/sqft |
| Sandoval | $ 403,552 $ 207/sqft | Eddy | $ 190,000 $ 127/sqft |
| Otero | $ 266,183 $ 148/sqft | Cibola | $ 184,950 $ 117/sqft |
| Valencia | $ 319,750 $ 177/sqft | Mckinley | $ 173,650 $ 102/sqft |
| Santa Fe | $ 610,000 $ 380/sqft | Socorro | $ 179,000 $ 132/sqft |
| San Juan | $ 350,433 $ 172/sqft | Rio Arriba | $ 395,000 $ 236/sqft |
| Curry | $ 195,000 $ 118/sqft | Catron | $ 159,952 $ 136/sqft |
| Chaves | $ 212,250 $ 125/sqft | San Miguel | $ 124,000 $ 87/sqft |
| Grant | $ 296,823 $ 180/sqft | Hidalgo | $ 65,900 $ 83/sqft |
| Colfax | $ 488,737 $ 276/sqft | Los Alamos | $ 862,500 $ 440/sqft |
| Lea | $ 229,200 $ 132/sqft | Guadalupe | $ -- $ -- |
| Taos | $ 630,000 $ 311/sqft | Doña Ana | $ -- $ -- |
| Roosevelt | $ 159,900 $ 106/sqft | Harding | $ -- $ -- |
| Lincoln | $ 475,000 $ 257/sqft | Union | $ -- $ -- |
| Luna | $ 219,736 $ 127/sqft | Mora | $ -- $ -- |
| Sierra | $ 229,000 $ 147/sqft | De Baca | $ -- $ -- |
| Torrance | $ 234,547 $ 137/sqft |
Housing Market Summary for New Mexico
| Sep 2023 | August 2024 | Change | |
|---|---|---|---|
| Median Listing Price | $334.7K | $340.5K | 1.74% |
| Median Sold Price | $307.9K | $314.2K | 2.05% |
| Homes For Sale | 2,949 | 3,441 | 16.68% |
| Homes Sold | 14,786 | 13,957 | -5.61% |
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 3,448 properties for sale in New Mexico. The current home value ranges in price from 3,200 to 9,000,000. The total count of properties in the state is 758,110, and the percentage of properties for sale is 3448.00%.
- Pre-ForeclosurePre-foreclosure homes account for 0.03% of all residential properties in New Mexico with Bernalillo containing 189 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 $1,074,433 in Los Alamos to the lowest home value of $31,877 in Chaves.
- Bank OwnedThe median estimated home value of bank owned homes (REO properties) in New Mexico ranges from the highest value of $861,979 in Taos to the lowest value of $29,900 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 23 REO properties, has the highest number of bank owned properties in a single county.
- AuctionsLea has 20 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 $457,592 in Mckinley to the lowest value of $48,425 in Mckinley.
Compare Nearby Cities
More Real Estate Resources for New Mexico
Guide for New Mexico
Santa Fe’s real estate market saw average property values drop but maintained stable sale prices per sqft, with a sales peak in Feb 2024. Nearby cities showed diverse trends, with Lamy having high-value, low-volume sales and Los Alamos showing increasing values.
The article explores the nuances of Albuquerque’s real estate market trends, highlighting increasing property values, fluctuating price per square foot, a nearby cities.
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
