Santa Fe, NM metro area Housing Market
Cool MarketComprehensive housing market data for the Santa Fe, 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
$605K
↑ 3.0% YoY
Days on Market
88 days
↑ 54.4% YoY
Active Inventory
699
↑ 2.8% YoY
Homes Sold
177
↑ 4.1% YoY
Cool Market
Buyer activity is slowing, creating more negotiating room.
Santa Fe, NM metro area Market Summary
The Santa Fe, NM metro area housing market is cooling down. As of March 2026, the median home sale price is $605K, up 3.0% year-over-year. Homes are spending a median of 88 days on the market, 54.4% longer than a year ago.
There are 699 homes for sale — 2.8% more than last year. With 3.9 months of supply, this is a seller's market. 279 new listings were added during this period, up 25.7% year-over-year.
Homes are selling for 97.5% of their list price on average, suggesting room for negotiation. 10.2% of homes sell above their asking price. 18.9% of listings have had a price drop.
Market Opportunity Score
Based on current market conditions
68
Contributing Factors
How This Market Compares
vs. National Median
vs. New Mexico Median
Investor Takeaway
The cooling market may present buying opportunities with less competition and more negotiating leverage. Prices are 39% above the national median. Focus on rent-to-price ratios to ensure deals still cash flow.
Santa Fe, NM metro area Market Trends
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Detailed Market Metrics
Median List Price
$708K
Price per Sq Ft
$323
Sale-to-List Ratio
97.5%
Months of Supply
3.9
Sold Above List
10.2%
Price Drops
18.9%
New Listings
279
↑ 25.7% YoY
Pending Sales
218
Off Market in 2 Weeks
36.2%
Other Markets in New Mexico
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$265K · 81d on market
Farmington, NM metro area
$355K · 40d on market
Clovis, NM metro area
$215K · 77d on market
Hobbs, NM metro area
$265K · 15d on market
Carlsbad, NM metro area
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Roswell, NM metro area
$247K · 31d on market
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.