1 day on Rocket3D tour
$10,000 Closing Credit¹
#202500883, Neil D. Lyon, Listing Office: Sotheby's Int. RE/Grant
87506 Housing Market Report February 2025•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 Neutral Market
Difference Since February 2024
At the same time last year, 87506 was a Seller's Market.
Insight
87506 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
$1,399,500$485/SqFt
+$74,500
+5.6%
Based on all homes sold in the last 12 months
Insight
Homes in 87506 have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in 87506 was $1,399,500 in February 2025, up 5.6% from last year, and the median price per square foot was $485.
Median Sold Price By Bedrooms
| Beds | Feb 2024 | Feb 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $376K | $451K | +19.9% |
| 22 Bedrooms | $675K | $758.5K | +12.4% |
| 33 Bedrooms | $1.3M | $1.4M | +11.3% |
| 44 Bedrooms | $1.6M | $1.7M | +2.5% |
| 55+ Bedrooms | $2.1M | $1.7M | -18.3% |
Summary: 87506 housing price by bedroom type for February 2025, 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 +12.4%. The home price for 3 bedroom homes increased by +11.3%. The home price for 4 bedroom homes increased by +2.5%. The home price for 5 bedroom homes decreased by -18.3%.
How does 87506, NM compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
87506, NM
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 |
|---|---|---|
| 137Last MonthFeb 2025 | ||
| 1382 months agoJan 2025 | -0.7 % Change MoMJan – Feb |
Summary: The 87506 real estate market had 137 homes for sale in Feb 2025, a 0.7 % decrease compared to Jan 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 22Last MonthFeb 2025 | ||
| 172 months agoJan 2025 | +29.4 % Change MoMJan – Feb |
Homes For Sale By Bedroom Count
| Beds | Jan 2025 | Feb 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 1 | 1 | 0.0% |
| 22 Bedrooms | 15 | 14 | -6.7% |
| 33 Bedrooms | 69 | 76 | +10.1% |
| 44 Bedrooms | 39 | 35 | -10.3% |
| 55+ Bedrooms | 14 | 11 | -21.4% |
Summary: 87506 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 -6.7%. The inventory for 3 bedroom homes increased by +10.1%. The inventory for 4 bedroom homes decreased by -10.3%. The inventory for 5 bedroom homes decreased by -21.4%.
Asking Price vs. Sold Price
How much do homes in 87506, NM cost?
Over Asking Price2 Homes
At Asking Price3 Homes
Under Asking Price17 Homes
Insight
If you're buying a home in 87506, you may be able to get a good deal. 77.3% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 87506 in February 2025, up by 29.4% month-over-month. Of the 22 sold homes, 77% were sold under asking, 14% were sold at asking, and and 9% 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 Days2 Homes
30 – 90 Days8 Homes
Over 90 Days12 Homes
Insight
Most homes in 87506 are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During February 2025, 22 homes were sold in 87506; 9% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 55% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 109 DaysThis YearFeb 2025 | ||
| 72 Days1 year agoFeb 2024 | +51.2 % Change YoYFeb 2024 – Feb 2025 |
Summary: Homes in 87506 had an average listing age of 109 days in Feb 2025, up by 51.2% compared to the previous year.
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Newest Listings in 87506, NM
What homes are available in 87506, NM?
1 day on Rocket
$10,000 Closing Credit¹
#202500924, Thomas J.Rieland, Matthew Rieland, Listing Office: Sotheby's Int. RE/Washington
3 days on Rocket
#202500940, Stephen Jehle, Listing Office: MORE Realty
3 days on Rocket3D tour
$10,000 Closing Credit¹
#202500896, Mary Guzman, Gretchen Walther, Listing Office: Barker Realty, LLC
3 days on Rocket
$10,000 Closing Credit¹
#202500853, Katherine Blagden, Jackson Blagden, Listing Office: Sotheby's Int. RE/Washington
5 days on Rocket
#1079543, Vertical Real Estate, Listing Office: Keller Williams Realty
6 days on Rocket
#202500504, Nalini Sosa, Listing Office: Barker Realty, LLC
7 days on Rocket
#202500666, Michaelann Huitfeldt, Avril Ekstrand, Listing Office: Santa Fe Properties
#202500819, Paul Duran, Kelly Allen, Listing Office: Keller Williams Realty
#202500821, Paul Duran, Kelly Allen, Listing Office: Keller Williams Realty
#202500816, Reagan Nickelson, Listing Office: Real Broker LLC
#202500416, Abigail E. Davidson, Listing Office: Sotheby's Int. RE/Grant
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MLS Disclaimers and Copyright
Based on information from Santa Fe MLS, and Southwest Multiple Listing Service for the period 03/01/2023 - 03/01/2025
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: 3/14/2025, 8:20:52 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: 3/14/2025, 8:20:48 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.