New Mexico Home Values & Market Trends

There have been 22,513 properties sold in the New Mexico real estate market trends. Median home values in the New Mexico housing market are $294,070.1. The median residential home value for transactions over the last 12 months is 163,723.646. The State of New Mexico currently has 406 properties in foreclosure, 129 bank owned properties, and 128 headed for auction.

New Mexico Real Estate Market Overview

CountyMedian Est. ValueCountyMedian Est. Value
Bernalillo

$ 364,950

$ 194/sqft

Mckinley

$ 174,900

$ 127/sqft

Sandoval

$ 378,527

$ 200/sqft

Quay

$ 160,529

$ 108/sqft

Otero

$ 259,579

$ 147/sqft

San Miguel

$ 175,503

$ 147/sqft

San Juan

$ 284,500

$ 159/sqft

Torrance

$ 180,000

$ 101/sqft

Valencia

$ 297,400

$ 159/sqft

Cibola

$ 102,541

$ 75/sqft

Santa Fe

$ 607,521

$ 381/sqft

Catron

$ 167,500

$ --

Chaves

$ 195,397

$ 118/sqft

Socorro

$ 185,756

$ 102/sqft

Curry

$ 233,668

$ 101/sqft

Los Alamos

$ --

$ --

Grant

$ 289,790

$ 148/sqft

Guadalupe

$ 225,000

$ 154/sqft

Colfax

$ 404,874

$ 249/sqft

Rio Arriba

$ 107,248

$ 31/sqft

Lea

$ 230,278

$ 119/sqft

Hidalgo

$ 95,000

$ 93/sqft

Roosevelt

$ 182,180

$ 101/sqft

Doña Ana

$ --

$ --

Luna

$ 200,000

$ 126/sqft

Harding

$ --

$ --

Taos

$ 649,500

$ 411/sqft

Union

$ --

$ --

Lincoln

$ 461,352

$ 232/sqft

Mora

$ --

$ --

Sierra

$ 224,000

$ 136/sqft

De Baca

$ --

$ --

Eddy

$ 299,509

$ 171/sqft

See More

Housing Market Summary for New Mexico

Mar 2023February 2024Change
Median Listing Price$320K$308.4K-3.62%
Median Sold Price$290.3K$308.4K6.26%
Homes For Sale2,2042,67621.42%
Homes Sold13,70512,694-7.38%
Price
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Homes For Sale
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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%.

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Browse Homes in New Mexico

There are currently 2,682 properties for sale in New Mexico. The current home value ranges in price from 11,000 to 4,950,000. The total count of properties in the state is 761,789, and the percentage of properties for sale is 2682.00%.

Foreclosure
There are 33 counties within New Mexico; within these counties, the median estimated home value for homes in foreclosure ranges from $496,020 in Otero to the lowest value of $33,317 in Otero. Foreclosure homes account for 0.00% of properties in New Mexico with Bernalillo containing 158 foreclosures, the highest number of foreclosure properties in a single county.
  • Pre-Foreclosure
    Pre-foreclosure homes account for 0.02% of all residential properties in New Mexico with Bernalillo containing 83 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 $608,896 in Lincoln to the lowest home value of $88,847 in Eddy.
  • Bank Owned
    The median estimated home value of bank owned homes (REO properties) in New Mexico ranges from the highest value of $560,500 in Sandoval to the lowest value of $44,900 in Otero. Bank owned homes and properties account for 0.02% of properties in New Mexico. There are 33 counties within New Mexico; Bernalillo containing 35 REO properties, has the highest number of bank owned properties in a single county.
  • Auctions
    Bernalillo has 40 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 $583,387 in Mckinley to the lowest value of $33,317 in Mckinley.
Homes for Sale
Homes and properties that are actively listed for sale account for 0.35% of residential properties in New Mexico with Bernalillo containing 759 homes for sale, the highest number of listed properties in a single county. There are 33 counties within New Mexico; homes for sale in those counties, have a range of median values from $225,000 in Guadalupe to the lowest value of $23,074 in Curry.
    Sold Homes
    The median value for recently sold homes ranges from $17,919,047 in Los Alamos to the lowest price of $23,449 in Los Alamos. There are 33 counties within New Mexico. Bernalillo has 3783 recently sold homes, the highest number of recently sold properties in a single county. Recently sold homes and properties account for 1.62% of properties in New Mexico.

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      Guide for New Mexico

      gavel for real estate auction
      Home Buying Guides & Tips
      New Mexico Foreclosure Laws
      A new home
      Home Buying Financing
      How Much Should You Spend On Your First Home?
      Buy to Rent
      How To Choose The Right Property Management Tool
      Buy to Rent
      6 Tips For Dealing With Difficult Tenants
      See More Articles
      gavel for real estate auction
      New Mexico Foreclosure Laws
      Home Buying Guides & Tips|posted 6 June 2013

      Learn more about the New Mexico foreclosure laws, the NM judicial foreclosure process and timelines on RealtyTrac

      A new home
      How Much Should You Spend On Your First Home?
      Home Buying Financing|posted 6 March 2024

      Buying your first home is an exciting and significant milestone in life. It’s a decision that requires careful consideration, especially when it comes to finances. Understanding how much you should spend on your first home is crucial to ensure a smooth and stress-free buying process. In this article, we will explore the basics of home […]

      How To Choose The Right Property Management Tool
      Buy to Rent|posted 5 March 2024

      Learn how to select the perfect property management tool for your real estate business.

      6 Tips For Dealing With Difficult Tenants
      Buy to Rent|posted 5 March 2024

      Discover 6 practical tips to effectively handle challenging tenants and maintain a harmonious landlord-tenant relationship.