New Mexico Housing Market
Cold MarketHousing market data and trends for New Mexico. Track median prices, inventory, days on market, and competition metrics for real estate investors.
Data period: March 2026
Median Sale Price
$379K
↑ 6.8% YoY
Days on Market
77 days
↑ 16.7% YoY
Active Inventory
4,007
↑ 5.5% YoY
Homes Sold
898
↑ 7.5% YoY
Cold Market
Inventory is high and homes are sitting longer — a buyer's market.
New Mexico Market Summary
The New Mexico housing market is cooling down. As of March 2026, the median home sale price is $379K, up 6.8% year-over-year. Homes are spending a median of 77 days on the market, 16.7% longer than a year ago.
There are 4,007 homes for sale — 5.5% more than last year. With 4.5 months of supply, this is a balanced market. 1,363 new listings were added during this period, up 15.2% year-over-year.
Homes are selling for 98.8% of their list price on average, suggesting room for negotiation. 3.5% of homes sell above their asking price. 20.2% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
73
Contributing Factors
How This Market Compares
vs. National Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals.
New Mexico Market Trends
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Detailed Market Metrics
Median List Price
$413K
Price per Sq Ft
$223
Sale-to-List Ratio
98.8%
Months of Supply
4.5
Sold Above List
3.5%
Price Drops
20.2%
New Listings
1,363
↑ 15.2% YoY
Pending Sales
1,078
Metro Areas in New Mexico
Las Cruces, NM metro area
$336K median
80 days
on market
Santa Fe, NM metro area
$605K median
88 days
on market
Alamogordo, NM metro area
$265K median
81 days
on market
Farmington, NM metro area
$355K median
40 days
on market
Clovis, NM metro area
$215K median
77 days
on market
Hobbs, NM metro area
$265K median
15 days
on market
Carlsbad, NM metro area
$344K median
32 days
on market
Roswell, NM metro area
$247K median
31 days
on market
Ruidoso, NM metro area
$392K median
152 days
on market
Taos, NM metro area
$530K median
180 days
on market
Los Alamos, NM metro area
$620K median
59 days
on market
Silver City, NM metro area
$253K median
187 days
on market
Deming, NM metro area
$225K median
55 days
on market
Portales, NM metro area
$190K median
46 days
on market
Las Vegas, NM metro area
$323K median
76 days
on market
Gallup, NM metro area
$195K median
62 days
on market
Española, NM metro area
$295K median
66 days
on market
Grants, NM metro area
$225K median
77 days
on market
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Try It FreeHousing market data provided by Redfin, a national real estate brokerage. Not financial advice. Always consult a qualified professional before making investment decisions.