Darlene L. Streit, Listing Office: Sotheby's Int. RE/Grant
87506 Housing Market Report December 2024•Santa Fe County, New Mexico
Housing Prices in 87506, NM
How much do homes in 87506, NM cost?
Housing Market Conditions
Is 87506, NM a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
87506 is a Buyer's Market
Difference Since December 2023
Since last year, 87506 has remained a Buyer's Market.
87506 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
Based on all homes sold in the last 12 months
Homes in 87506 have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in 87506 was $1,390,166 in December 2024, up 5.3% from last year, and the median price per square foot was $481.
Median Sold Price By Bedrooms
Beds | Dec 2023 | Dec 2024 | Change YoY |
---|---|---|---|
11 Bedroom | $376K | $451K | +19.9% |
22 Bedrooms | $622.5K | $765.2K | +22.9% |
33 Bedrooms | $1.3M | $1.3M | +6.8% |
44 Bedrooms | $1.6M | $1.7M | +1.5% |
55+ Bedrooms | $2.1M | $1.7M | -19.3% |
Summary: 87506 housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes increased by +19.9%. The home price for 2 bedroom homes increased by +22.9%. The home price for 3 bedroom homes increased by +6.8%. The home price for 4 bedroom homes increased by +1.5%. The home price for 5 bedroom homes decreased by -19.3%.
Housing supply in 87506, NM
How many homes are available in 87506, NM?
Number of Homes For Sale
Last Month | 2 months ago | Change MoM |
---|---|---|
136Last MonthDec 2024 | ||
1422 months agoNov 2024 | -4.2 % Change MoMNov – Dec |
Summary: The 87506 real estate market had 136 homes for sale in Dec 2024, a 4.2 % decrease compared to Nov 2024.
Number of Homes Sold
Last Month | 2 months ago | Change MoM |
---|---|---|
19Last MonthDec 2024 | ||
152 months agoNov 2024 | +26.7 % Change MoMNov – Dec |
Homes For Sale By Bedroom Count
Beds | Nov 2024 | Dec 2024 | Change MoM |
---|---|---|---|
11 Bedroom | 2 | 1 | -50.0% |
22 Bedrooms | 15 | 15 | 0.0% |
33 Bedrooms | 73 | 71 | -2.7% |
44 Bedrooms | 37 | 36 | -2.7% |
55+ Bedrooms | 15 | 13 | -13.3% |
Summary: 87506 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 -2.7%. The inventory for 4 bedroom homes decreased by -2.7%. The inventory for 5 bedroom homes decreased by -13.3%.
Asking Price vs. Sold Price
How much do homes in 87506, NM cost?
Over Asking Price1 Home
At Asking Price4 Homes
Under Asking Price14 Homes
If you're buying a home in 87506, you may be able to get a good deal. 73.7% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in 87506 in December 2024, up by 26.7% month-over-month. Of the 19 sold homes, 74% were sold under asking, 21% were sold at asking, and and 5% were sold over asking.
Days on Market for 87506, NM
How long does it take to sell a home in 87506, NM?
Breakdown of Home Sale Times
Under 30 Days8 Homes
30 – 90 Days4 Homes
Over 90 Days7 Homes
Many homes in 87506 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 19 homes were sold in 87506; 42% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.
Average Sale Time
This Year | 1 year ago | Change YoY |
---|---|---|
118 DaysThis YearDec 2024 | ||
112 Days1 year agoDec 2023 | +5.8 % Change YoYDec 2023 – Dec 2024 |
Summary: Homes in 87506 had an average listing age of 118 days in Dec 2024, up by 5.8% compared to the previous year.
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Newest Listings in 87506, NM
What homes are available in 87506, NM?
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MLS Disclaimers and Copyright
Based on information from Santa Fe MLS, Southwest Multiple Listing Service, and North Texas Real Estate Information Systems Inc. for the period 01/01/2023 - 01/01/2025
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: 1/31/2025, 3:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 1/31/2025, 3:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
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Last updated on: 1/31/2025, 3:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.