Farmington, NM metro area Housing Market
Warm MarketComprehensive housing market data for the Farmington, NM metro area metro area. Track home prices, inventory, days on market, and competition — updated monthly for real estate investors.
Data period: March 2026
Median Sale Price
$355K
↑ 32.5% YoY
Days on Market
40 days
↑ 8.1% YoY
Active Inventory
111
↓ 16.5% YoY
Homes Sold
64
↑ 30.6% YoY
Warm Market
The market is active with moderate buyer demand.
Farmington, NM metro area Market Summary
The Farmington, NM metro area housing market is heating up. As of March 2026, the median home sale price is $355K, up 32.5% year-over-year. Homes are spending a median of 40 days on the market, 8.1% longer than a year ago.
There are 111 homes for sale — 16.5% fewer than last year. With 1.7 months of supply, this is a seller's market. 51 new listings were added during this period, down 20.3% year-over-year.
Homes are selling for 102.8% of their list price on average, indicating buyers are paying above asking. 1.6% of homes sell above their asking price. 27.0% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
48
Contributing Factors
How This Market Compares
vs. National Median
vs. New Mexico Median
Investor Takeaway
A significant share of sellers are cutting prices, which can signal motivated sellers and potential deals. Prices are 19% below the national median, which could indicate stronger cash flow potential.
Farmington, NM metro area Market Trends
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Detailed Market Metrics
Median List Price
$335K
Price per Sq Ft
$192
Sale-to-List Ratio
102.8%
Months of Supply
1.7
Sold Above List
1.6%
Price Drops
27.0%
New Listings
51
↓ 20.3% YoY
Pending Sales
74
Off Market in 2 Weeks
39.2%
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Hobbs, NM metro area
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Carlsbad, NM metro area
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Ruidoso, NM metro area
$392K · 152d 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.