87505 Housing Market Report January 2025•Santa Fe County, New Mexico

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Housing Prices in 87505, NM

How much do homes in 87505, NM cost?

Housing Market Conditions

Is 87505, 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

87505 is a Seller's Market

Difference Since January 2024

Since last year, 87505 has remained a Seller's Market.

Insight

87505 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.
$596,166$376/SqFt
-$20,250
-3.3%

Based on all homes sold in the last 12 months

Insight

Homes in 87505 have sold for 3.3% less than they did a year ago.

Summary: The median home sold price in 87505 was $596,166 in January 2025, down 3.3% from last year, and the median price per square foot was $376.

Median Sold Price By City

Median Sold Price By City
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
87501
+3.0%
87507
-0.9%
87508
-1.0%
87505
-3.3%

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.
BedsJan 2024Jan 2025Change YoY
1$257.5K$343.2K
+33.3%
2$492.5K$495.5K
+0.6%
3$668.7K$678K
+1.4%
4$810K$862.8K
+6.5%
5$1.1M$935K
-15.2%

Summary: 87505 housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +33.3%. The home price for 2 bedroom homes increased by +0.6%. The home price for 3 bedroom homes increased by +1.4%. The home price for 4 bedroom homes increased by +6.5%. The home price for 5 bedroom homes decreased by -15.2%.

Housing supply in 87505, NM

How many homes are available in 87505, 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
183Last MonthJan 2025
1722 months agoDec 2024
+6.4 %
Change MoMDec – Jan

Summary: The 87505 real estate market had 183 homes for sale in Jan 2025, a 6.4 % increase compared to Dec 2024.

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
32Last MonthJan 2025
382 months agoDec 2024
-15.8 %
Change MoMDec – Jan

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.
BedsDec 2024Jan 2025Change MoM
11316
+23.1%
24240
-4.8%
36472
+12.5%
44043
+7.5%
51312
-7.7%

Summary: 87505 housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +23.1%. The inventory for 2 bedroom homes decreased by -4.8%. The inventory for 3 bedroom homes increased by +12.5%. The inventory for 4 bedroom homes increased by +7.5%. The inventory for 5 bedroom homes decreased by -7.7%.

Asking Price vs. Sold Price

How much do homes in 87505, 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 Price4 Homes

At Asking Price4 Homes

Under Asking Price24 Homes

Insight

If you're buying a home in 87505, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 32 homes were sold or pending in 87505 in January 2025, down by 15.8% month-over-month. Of the 32 sold homes, 75% were sold under asking, 13% were sold at asking, and and 13% were sold over asking.

Days on Market for 87505, NM

How long does it take to sell a home in 87505, NM?

Breakdown of Home Sale Times

Under 30 Days15 Homes

30 – 90 Days8 Homes

Over 90 Days9 Homes

Insight

Many homes in 87505 are selling fast, if you're buying plan to act quickly.

Summary: During January 2025, 32 homes were sold in 87505; 47% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 28% 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
63 DaysThis YearJan 2025
68 Days1 year agoJan 2024
-7.1 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in 87505 had an average listing age of 63 days in Jan 2025, down by 7.1% compared to the previous year.

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Newest Listings in 87505, NM

What homes are available in 87505, NM?

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Nearby markets

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MLS Disclaimers and Copyright

Based on information from Santa Fe MLS, and Southwest Multiple Listing Service for the period 02/01/2023 - 02/01/2025

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: 2/7/2025, 7:20:52 AM 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 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: 2/7/2025, 7:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.