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87501 Housing Market Report May 2025•Santa Fe County, New Mexico
Housing Prices in 87501, NM
How much do homes in 87501, NM cost?
Housing Market Conditions
Is 87501, NM a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
87501 is a Neutral Market
Difference Since May 2024
At the same time last year, 87501 was a Seller's Market.
Insight
87501 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
$805,000$482/SqFt
-$2,666
-0.3%
Based on all homes sold in the last 12 months
Insight
The sold price of homes in 87501 has remained the same since last year.
Summary: The median home sold price in 87501 was $805,000 in May 2025, down 0.3% from last year, and the median price per square foot was $482.
Median Sold Price By Bedrooms
| Beds | May 2024 | May 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $375K | $408K | +8.8% |
| 22 Bedrooms | $678.6K | $660K | -2.8% |
| 33 Bedrooms | $959K | $980K | +2.2% |
| 44 Bedrooms | $1.3M | $1.5M | +11.3% |
| 55+ Bedrooms | $2.0M | $2.4M | +18.4% |
Summary: 87501 housing price by bedroom type for May 2025, compared to the previous year. The home price for 1 bedroom homes increased by +8.8%. The home price for 2 bedroom homes decreased by -2.8%. The home price for 3 bedroom homes increased by +2.2%. The home price for 4 bedroom homes increased by +11.3%. The home price for 5 bedroom homes increased by +18.4%.
How does 87501, NM compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
87501, NM
Housing supply in 87501, NM
How many homes are available in 87501, NM?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 160Last MonthMay 2025 | ||
| 1632 months agoApr 2025 | -1.8 % Change MoMApr – May |
Summary: The 87501 real estate market had 160 homes for sale in May 2025, a 1.8 % decrease compared to Apr 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 24Last MonthMay 2025 | ||
| 412 months agoApr 2025 | -41.5 % Change MoMApr – May |
Homes For Sale By Bedroom Count
| Beds | Apr 2025 | May 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 27 | 26 | -3.7% |
| 22 Bedrooms | 43 | 42 | -2.3% |
| 33 Bedrooms | 60 | 61 | +1.7% |
| 44 Bedrooms | 23 | 20 | -13.0% |
| 55+ Bedrooms | 10 | 11 | +10.0% |
Summary: 87501 housing inventory by bedroom type for May 2025, compared to the previous month. The inventory for 1 bedroom homes decreased by -3.7%. The inventory for 2 bedroom homes decreased by -2.3%. The inventory for 3 bedroom homes increased by +1.7%. The inventory for 4 bedroom homes decreased by -13.0%. The inventory for 5 bedroom homes increased by +10.0%.
Asking Price vs. Sold Price
How much do homes in 87501, NM cost?
Over Asking Price3 Homes
At Asking Price3 Homes
Under Asking Price18 Homes
Insight
If you're buying a home in 87501, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 87501 in May 2025, down by 41.5% month-over-month. Of the 24 sold homes, 75% were sold under asking, 13% were sold at asking, and and 13% were sold over asking.
Days on Market for 87501, NM
How long does it take to sell a home in 87501, NM?
Breakdown of Home Sale Times
Under 30 Days13 Homes
30 – 90 Days2 Homes
Over 90 Days9 Homes
Insight
Many homes in 87501 are selling fast, if you're buying plan to act quickly.
Summary: During May 2025, 24 homes were sold in 87501; 54% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 79 DaysThis YearMay 2025 | ||
| 45 Days1 year agoMay 2024 | +74.3 % Change YoYMay 2024 – May 2025 |
Summary: Homes in 87501 had an average listing age of 79 days in May 2025, up by 74.3% compared to the previous year.
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Newest Listings in 87501, NM
What homes are available in 87501, NM?
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MLS Disclaimers and Copyright
Based on information from Santa Fe MLS, and Southwest Multiple Listing Service for the period 06/01/2023 - 06/01/2025
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: 6/10/2025, 7:45:31 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 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: 6/10/2025, 7:45:26 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.