87002 Housing Market Report May 2025•Valencia County, New Mexico

hero building illustration for mobile

Housing Prices in 87002, NM

How much do homes in 87002, NM cost?

Housing Market Conditions

Is 87002, NM a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

87002 is a Seller's Market

Difference Since May 2024

Since last year, 87002 has remained a Seller's Market.

Insight

87002 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$268,000$169/SqFt
+$100
0.0%

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 87002 has remained the same since last year.

Summary: The median home sold price in 87002 was $268,000 in May 2025, the same as last year, and the median price per square foot was $169.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
87031
+8.1%
87002
0.0%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsMay 2024May 2025Change YoY
1-$350K
N/A
2$188K$182.5K
-2.9%
3$266.9K$275K
+3.0%
4$315K$326K
+3.5%
5$329.9K$343K
+4.0%

Summary: 87002 housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -2.9%. The home price for 3 bedroom homes increased by +3.0%. The home price for 4 bedroom homes increased by +3.5%. The home price for 5 bedroom homes increased by +4.0%.

How does 87002, NM compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

87002, NM

Housing supply in 87002, NM

How many homes are available in 87002, NM?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
94Last MonthMay 2025
972 months agoApr 2025
-3.1 %
Change MoMApr – May

Summary: The 87002 real estate market had 94 homes for sale in May 2025, a 3.1 % decrease compared to Apr 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
22Last MonthMay 2025
132 months agoApr 2025
+69.2 %
Change MoMApr – May

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsApr 2025May 2025Change MoM
133
0.0%
21210
-16.7%
36361
-3.2%
41617
+6.3%
533
0.0%

Summary: 87002 housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -16.7%. The inventory for 3 bedroom homes decreased by -3.2%. The inventory for 4 bedroom homes increased by +6.3%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 87002, NM cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price6 Homes

At Asking Price6 Homes

Under Asking Price10 Homes

Insight

If you're buying a home in 87002, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 22 homes were sold or pending in 87002 in May 2025, up by 69.2% month-over-month. Of the 22 sold homes, 45% were sold under asking, 27% were sold at asking, and and 27% were sold over asking.

Days on Market for 87002, NM

How long does it take to sell a home in 87002, NM?

Breakdown of Home Sale Times

Under 30 Days11 Homes

30 – 90 Days3 Homes

Over 90 Days8 Homes

Insight

Many homes in 87002 are selling fast, if you're buying plan to act quickly.

Summary: During May 2025, 22 homes were sold in 87002; 50% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 36% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
75 DaysThis YearMay 2025
40 Days1 year agoMay 2024
+86.8 %
Change YoYMay 2024 – May 2025

Summary: Homes in 87002 had an average listing age of 75 days in May 2025, up by 86.8% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in 87002, NM

What homes are available in 87002, NM?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in New Mexico

MLS Disclaimers and Copyright

Based on information from Southwest Multiple Listing Service, California Regional MLS, and Santa Fe MLS for the period 06/01/2023 - 06/01/2025

IDXThe data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Southwest Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Real estate listings held by other brokerage firms are indicated by detailed information about them such as the name of the listing firms. Information deemed reliable but not guaranteed.

Copyright © 2025 Southwest Multiple Listing Service. All Rights Reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/3/2025, 5:45:28 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Based on information from California Regional Multiple Listing Service, Inc. and /or other sources. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. The data contained herein is copyrighted by CRMLS and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.

The information being provided by California Regional Multiple Listing Service, Inc. (“CRMLS”) is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Any information relating to a property referenced on this web site comes from CRMLS. Properties may or may not be listed by the office/agent presenting the information. Real estate listings held by brokerage firms other than this broker are marked with the Internet Data Exchange logo and detailed information about them includes the names of the listing brokers and listing agents. MLS search engine provided by IHR Technology Services. This data is updated every 2 hours. Some properties appearing for sale on this display may subsequently have sold and may no longer be available.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/3/2025, 5:45:30 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDXThe data relating to real estate for sale in this web site comes in part from the Internet Data exchange (“IDX”) program of Santa Fe Association of REALTORS® MLS, Inc. Real estate listings held by brokers other than this broker are marked with the IDX Logo. All data in this web site is deemed reliable but is not guaranteed. IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Copyright © 2025 Santa Fe Association of REALTORS® All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 6/3/2025, 5:45:30 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.