9 hours on RocketTour
$6,782 Closing Credit¹
#202502308, Miguel Pena-Valenzuela, Listing Office: D.R. Horton
87508 Housing Market Report April 2025•Santa Fe County, New Mexico
Housing Prices in 87508, NM
How much do homes in 87508, NM cost?
Housing Market Conditions
Is 87508, NM a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
87508 is a Seller's Market
Difference Since April 2024
Since last year, 87508 has remained a Seller's Market.
Insight
87508 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Median Sold Price
$678,333$342/SqFt
+$12,677
+1.9%
Based on all homes sold in the last 12 months
Insight
Homes in 87508 have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in 87508 was $678,333 in April 2025, up 1.9% from last year, and the median price per square foot was $342.
Median Sold Price By Bedrooms
| Beds | Apr 2024 | Apr 2025 | Change YoY |
|---|---|---|---|
| 11 Bedroom | $275K | $694.1K | +152.4% |
| 22 Bedrooms | $520.7K | $510K | -2.1% |
| 33 Bedrooms | $660K | $680.5K | +3.1% |
| 44 Bedrooms | $813.2K | $782.5K | -3.8% |
| 55+ Bedrooms | $989.9K | $881.9K | -10.9% |
Summary: 87508 housing price by bedroom type for April 2025, compared to the previous year. The home price for 1 bedroom homes increased by +152.4%. The home price for 2 bedroom homes decreased by -2.1%. The home price for 3 bedroom homes increased by +3.1%. The home price for 4 bedroom homes decreased by -3.8%. The home price for 5 bedroom homes decreased by -10.9%.
How does 87508, NM compare with other places?
Market comparison tool
Data and numbers shown are subject to change and may vary based on different timeframes.
87508, NM
Housing supply in 87508, NM
How many homes are available in 87508, NM?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 136Last MonthApr 2025 | ||
| 1232 months agoMar 2025 | +10.6 % Change MoMMar – Apr |
Summary: The 87508 real estate market had 136 homes for sale in Apr 2025, a 10.6 % increase compared to Mar 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 23Last MonthApr 2025 | ||
| 272 months agoMar 2025 | -14.8 % Change MoMMar – Apr |
Homes For Sale By Bedroom Count
| Beds | Mar 2025 | Apr 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 1 | 1 | 0.0% |
| 22 Bedrooms | 20 | 19 | -5.0% |
| 33 Bedrooms | 66 | 77 | +16.7% |
| 44 Bedrooms | 33 | 34 | +3.0% |
| 55+ Bedrooms | 3 | 5 | +66.7% |
Summary: 87508 housing inventory by bedroom type for April 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -5.0%. The inventory for 3 bedroom homes increased by +16.7%. The inventory for 4 bedroom homes increased by +3.0%. The inventory for 5 bedroom homes increased by +66.7%.
Asking Price vs. Sold Price
How much do homes in 87508, NM cost?
Over Asking Price1 Home
At Asking Price4 Homes
Under Asking Price18 Homes
Insight
If you're buying a home in 87508, you may be able to get a good deal. 78.3% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in 87508 in April 2025, down by 14.8% month-over-month. Of the 23 sold homes, 78% were sold under asking, 17% were sold at asking, and and 4% were sold over asking.
Days on Market for 87508, NM
How long does it take to sell a home in 87508, NM?
Breakdown of Home Sale Times
Under 30 Days17 Homes
30 – 90 Days4 Homes
Over 90 Days2 Homes
Insight
Many homes in 87508 are selling fast, if you're buying plan to act quickly.
Summary: During April 2025, 23 homes were sold in 87508; 74% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Average Sale Time
| This Year | 1 year ago | Change YoY |
|---|---|---|
| 32 DaysThis YearApr 2025 | ||
| 43 Days1 year agoApr 2024 | -25.4 % Change YoYApr 2024 – Apr 2025 |
Summary: Homes in 87508 had an average listing age of 32 days in Apr 2025, down by 25.4% compared to the previous year.
Connect With An Agent
Local real estate agents are ready to help you find a home here
Sell My Home
Sell your home with an expert or get the job done on your own.
Get Approved
Get a customizable mortgage solution based on today's rates.
Newest Listings in 87508, NM
What homes are available in 87508, NM?
Popular Cities with Homes for Sale in New Mexico
- Homes for sale in Albuquerque, NM
- Homes for sale in Anthony, NM
- Homes for sale in Belen, NM
- Homes for sale in Bernalillo, NM
- Homes for sale in Cerrillos, NM
- Homes for sale in Corrales, NM
- Homes for sale in Edgewood, NM
- Homes for sale in Espanola, NM
- Homes for sale in Los Lunas, NM
- Homes for sale in Moriarty, NM
- Homes for sale in Placitas, NM
- Homes for sale in Rio Rancho, NM
- Homes for sale in Sandia Park, NM
- Homes for sale in Santa Fe, NM
- Homes for sale in Tijeras, NM
MLS Disclaimers and Copyright
Based on information from Santa Fe MLS, and Southwest Multiple Listing Service for the period 05/01/2023 - 05/01/2025
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: 5/25/2025, 12:20:31 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: 5/25/2025, 12:20:26 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.