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

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?

Seller'sMarket

Buyer'sMarket

87002 is a Neutral Market

Difference Since February 2024

At the same time last year, 87002 was a Seller's Market.

Insight

87002 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

$268,000$172/SqFt

+$8,000

+3.1%

Based on all homes sold in the last 12 months

Insight

Homes in 87002 have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in 87002 was $268,000 in February 2025, up 3.1% from last year, and the median price per square foot was $172.

Median Sold Price By Zip Codes

City	Feb 2024	Feb 2025	Change YoY
87031	$304.5K	$319.2K	+4.8%
87002	$260K	$268K	+3.1%

Median Sold Price By Bedrooms

Beds	Feb 2024	Feb 2025	Change YoY
11 Bedroom	$160K	$350K	+118.8%
22 Bedrooms	$196K	$190.2K	-2.9%
33 Bedrooms	$260K	$269.9K	+3.8%
44 Bedrooms	$319.9K	$296.5K	-7.3%
55+ Bedrooms	$336.9K	$343K	+1.8%

Summary: 87002 housing price by bedroom type for February 2025, compared to the previous year. The home price for 1 bedroom homes increased by +118.8%. The home price for 2 bedroom homes decreased by -2.9%. The home price for 3 bedroom homes increased by +3.8%. The home price for 4 bedroom homes decreased by -7.3%. The home price for 5 bedroom homes increased by +1.8%.

Housing supply in 87002, NM

How many homes are available in 87002, NM?

Number of Homes For Sale

Last Month	2 months ago	Change MoM
75Last MonthFeb 2025
812 months agoJan 2025	-7.4 % Change MoMJan – Feb

Summary: The 87002 real estate market had 75 homes for sale in Feb 2025, a 7.4 % decrease compared to Jan 2025.

Number of Homes Sold

Last Month	2 months ago	Change MoM
12Last MonthFeb 2025
142 months agoJan 2025	-14.3 % Change MoMJan – Feb

Homes For Sale By Bedroom Count

Beds	Jan 2025	Feb 2025	Change MoM
11 Bedroom	2	2	0.0%
22 Bedrooms	15	11	-26.7%
33 Bedrooms	50	47	-6.0%
44 Bedrooms	12	13	+8.3%
55+ Bedrooms	2	2	0.0%

Summary: 87002 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -26.7%. The inventory for 3 bedroom homes decreased by -6.0%. The inventory for 4 bedroom homes increased by +8.3%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 87002, NM cost?

Over Asking Price2 Homes

At Asking Price2 Homes

Under Asking Price8 Homes

Insight

If you're buying a home in 87002, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in 87002 in February 2025, down by 14.3% month-over-month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and and 17% 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 Days4 Homes

30 – 90 Days4 Homes

Over 90 Days4 Homes

Insight

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

Summary: During February 2025, 12 homes were sold in 87002; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Average Sale Time

This Year	1 year ago	Change YoY
76 DaysThis YearFeb 2025
64 Days1 year agoFeb 2024	+18.6 % Change YoYFeb 2024 – Feb 2025

Summary: Homes in 87002 had an average listing age of 76 days in Feb 2025, up by 18.6% 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

single story home with a garage, fence, concrete driveway, and brick siding

unfurnished living room with a baseboard radiator, a wood stove, french doors, and wood finished floors

spare room featuring baseboards, a textured ceiling, baseboard heating, and wood finished floors

New - 4 days on Rocket

$4,750 Closing Credit¹

$400,000

4 beds • 2.5 baths • 2,400 sqft

1615 Player Ct, Rio Communities NM 87002

#1079058, David A Castillo, Listing Office: Coldwell Banker Legacy

ranch-style house with driveway, an attached garage, roof with shingles, and stucco siding

kitchen with dark brown cabinetry, visible vents, stainless steel appliances, light wood-type flooring, and a sink

kitchen with a peninsula, dark brown cabinetry, appliances with stainless steel finishes, and light stone counters

New - 5 days on Rocket

$3,573 Closing Credit¹

$300,900

3 beds • 2 baths • 1,362 sqft

2614 Desi Loop, Belen NM 87002

#1078695, Tracy A Norton, Listing Office: LGI Homes

pueblo-style home featuring a garage and gravel driveway

view of property exterior with a garage, driveway, a chimney, and fence

New - 6 days on Rocket

$2,256 Closing Credit¹

$190,000

3 beds • 1 bath • 1,417 sqft

1060 N Gabaldon Rd, Belen NM 87002

#1078935, Dan J Cash, Listing Office: Pinnacle Real Estate Group

ranch-style home with fence and a carport

$2,399 Closing Credit¹

$202,000

3 beds • 1 bath • 1,706 sqft

722 Vivian Rd, Belen NM 87002

#1078752, Chris J Cantrell, Listing Office: MORE Realty, Inc

view of front of home featuring a garage, fence, and concrete driveway

view of front of house featuring a fenced front yard, concrete driveway, a carport, and a gate

doorway to property with fence and stucco siding

$3,028 Closing Credit¹

$255,000

3 beds • 1 bath • 1,736 sqft

305 Rosedale Cir, Belen NM 87002

#1078812, The Chavez Team, Listing Office: Keller Williams Realty

ranch-style house featuring concrete driveway, a carport, and brick siding

view of front of home featuring brick siding, fence, and driveway

single story home featuring brick siding and fence

$3,741 Closing Credit¹

$315,000

3 beds • 2 baths • 2,552 sqft

1616 Ben San Ave, Belen NM 87002

#202500704, Leonel Munoz, Listing Office: Regal Real Estate Experts

pueblo-style house with driveway, an attached garage, fence, and stucco siding

living area featuring ceiling fan, a tile fireplace, wood finished floors, and baseboards

living room with a skylight, baseboards, a tiled fireplace, ceiling fan, and wood finished floors

$2,939 Closing Credit¹

$247,500

3 beds • 1 bath • 1,343 sqft

119 Rio Communities Way, Rio Communities NM 87002

#1075301, Cynthia M Capps, Listing Office: Keller Williams Realty

14 Ursula Dr, Belen NM, 87002 land for sale

Listing photo 2 for 14 Ursula Dr, Belen NM 87002

Listing photo 3 for 14 Ursula Dr, Belen NM 87002

$55,000

Land • 0.97 Acres

14 Ursula Dr, Belen NM 87002

#1076913, Julie A Pluemer, Listing Office: Bosque Properties

ranch-style house with concrete driveway, an attached garage, and stucco siding

single story home featuring a garage, concrete driveway, and stucco siding

ranch-style home featuring a garage, concrete driveway, and stucco siding

$3,563 Closing Credit¹

$300,000

3 beds • 1 bath • 1,436 sqft

2318 Isabella Ln, Belen NM 87002

#1078612, Vertical Real Estate, Listing Office: Keller Williams Realty

view of front of home with stucco siding

view of front of house with stucco siding

view of front of home featuring a garage and stucco siding

$3,266 Closing Credit¹

$275,000

3 beds • 1 bath • 1,592 sqft

648 Frederico Blvd, Rio Communities NM 87002

#1078577, Roberta S. Robledo, Listing Office: Re/Max Exclusive

Listing photo 2 for Aragon, Belen NM 87002

Listing photo 3 for Aragon, Belen NM 87002

$33,000

Land • 0.19 Acres

Aragon, Belen NM 87002

#1078584, Evelyn L Orona, Listing Office: Orona Real Estate & Invst. Inc

6 Georgetown Loop, NM, 87002 land for sale

Listing photo 2 for 6 Georgetown Loop, NM 87002

Listing photo 3 for 6 Georgetown Loop, NM 87002

$6,329

Land • 0.25 Acres

6 Georgetown Loop, NM 87002

#OC25037133, Emmett Dalton, Listing Office: Dalton Real Estate

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 03/01/2023 - 03/01/2025

The 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: 3/4/2025, 4:20:50 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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: 3/4/2025, 4:20:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

The 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: 3/4/2025, 4:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.