New - 12 hours on Rocket
$10,000 Closing Credit¹
#1077301, Marilyn J Eifert, Listing Office: Q Realty
87048 Housing Market Report December 2024•Sandoval County, New Mexico
Housing Prices in 87048, NM
How much do homes in 87048, NM cost?
Housing Market Conditions
Is 87048, NM a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
87048 is a Seller's Market
Difference Since December 2023
Since last year, 87048 has remained a Seller's Market.
Insight
87048 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$680,000$294/SqFt
-$9,000
-1.3%
Based on all homes sold in the last 12 months
Insight
Homes in 87048 have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in 87048 was $680,000 in December 2024, down 1.3% from last year, and the median price per square foot was $294.
Median Sold Price By Bedrooms
| Beds | Dec 2023 | Dec 2024 | Change YoY |
|---|---|---|---|
| 11 Bedroom | - | $665.7K | N/A |
| 22 Bedrooms | $415K | $501.5K | +20.8% |
| 33 Bedrooms | $624.5K | $640K | +2.5% |
| 44 Bedrooms | $851K | $917.5K | +7.8% |
| 55+ Bedrooms | $1.2M | $1.2M | -1.8% |
Summary: 87048 housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +20.8%. The home price for 3 bedroom homes increased by +2.5%. The home price for 4 bedroom homes increased by +7.8%. The home price for 5 bedroom homes decreased by -1.8%.
Housing supply in 87048, NM
How many homes are available in 87048, NM?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 49Last MonthDec 2024 | ||
| 612 months agoNov 2024 | -19.7 % Change MoMNov – Dec |
Summary: The 87048 real estate market had 49 homes for sale in Dec 2024, a 19.7 % decrease compared to Nov 2024.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 18Last MonthDec 2024 | ||
| 152 months agoNov 2024 | +20.0 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
| Beds | Nov 2024 | Dec 2024 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 2 | 1 | -50.0% |
| 22 Bedrooms | 4 | 4 | 0.0% |
| 33 Bedrooms | 33 | 21 | -36.4% |
| 44 Bedrooms | 17 | 18 | +5.9% |
| 55+ Bedrooms | 5 | 5 | 0.0% |
Summary: 87048 housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes decreased by -50.0%. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes decreased by -36.4%. The inventory for 4 bedroom homes increased by +5.9%. The inventory for 5 bedroom homes remained the same.
Asking Price vs. Sold Price
How much do homes in 87048, NM cost?
Over Asking Price1 Home
At Asking Price8 Homes
Under Asking Price9 Homes
Insight
If you're buying a home in 87048, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in 87048 in December 2024, up by 20.0% month-over-month. Of the 18 sold homes, 50% were sold under asking, 44% were sold at asking, and and 6% were sold over asking.
Days on Market for 87048, NM
How long does it take to sell a home in 87048, NM?
Breakdown of Home Sale Times
Under 30 Days9 Homes
30 – 90 Days6 Homes
Over 90 Days3 Homes
Insight
Many homes in 87048 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 18 homes were sold in 87048; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 51 DaysThis YearDec 2024 | ||
| 32 Days1 year agoDec 2023 | +61.1 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in 87048 had an average listing age of 51 days in Dec 2024, up by 61.1% compared to the previous year.
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Newest Listings in 87048, NM
What homes are available in 87048, NM?
New - 1 day on Rocket
$6,353 Closing Credit¹
#1077050, Gene Gardner Della Maggiora, Listing Office: Coldwell Banker Legacy
New - 2 days on Rocket
#1077129, Warren Harris, Listing Office: Bosque Realty
New - 3 days on Rocket
$10,000 Closing Credit¹
#1077104, Joseph E Maez, Listing Office: The Maez Group
New - 5 days on Rocket
#1075950, Warren Harris, Listing Office: Bosque Realty
New - 7 days on Rocket
#1075897, Molly L Miller, Listing Office: Keller Williams Realty
New - 7 days on Rocket
$9,322 Closing Credit¹
#1075895, Molly L Miller, Listing Office: Keller Williams Realty
$10,000 Closing Credit¹
#1076455, Edward Donovan, Listing Office: Continental RE Group, Inc
#1076334, Gay Beth Birky, Listing Office: Coldwell Banker Legacy
$4,156 Closing Credit¹
#1076201, Tabitha Sanchez, Listing Office: EXP Realty LLC
$8,146 Closing Credit¹
#1076087, Edward Donovan, Listing Office: Continental RE Group, Inc
$10,000 Closing Credit¹
#1075625, J. Vance Kabella, Listing Office: Coldwell Banker Legacy
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MLS Disclaimers and Copyright
Based on information from Southwest Multiple Listing Service, and Santa Fe MLS for the period 01/01/2023 - 01/01/2025
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: 1/30/2025, 10:20:48 AM 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: 1/30/2025, 10:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.