New Mexico Real Estate Market in 2021: Forecasts + Trends

Clever Real Estate

By 

Clever Real Estate

October 1st, 2021
Updated October 1st, 2021

SHARE

New Mexico real estate trends

Real estate trends in New Mexico | Sellers | Buyers | Investors | The best and worst of New Mexico | New Mexico resources

New Mexico real estate trends (October 2021)

How is the real estate market in New Mexico?
🏠 Average home value: $253,438
📈 1.85% home value increase month over month
💰 Median sale price: $478,000
⏳ 59 days on the market
🔑 Homes on the market: 4,301
📆 1.1 months of housing inventory
🏦 30-year mortgage rate: 3.06%
💵 Average income: 82545
State of the market: A-
Home values in New Mexico are on a gentle upswing, but listing prices are skyrocketing; the fact that listings average over a month on the market suggests sellers may be too ambitious, especially considering the moderate level of inventory.
*Data last updated October 2021

With more than 1,400 hiking trails, New Mexico's mountains, forests, sand dunes, and prairies are both accessible and stunning in the diversity of their natural beauty. Its climate spans arid deserts and high peaks with an alpine climate.

Notable cities include Albuquerque, Santa Fe, and Roswell — but the majority of the state's counties are considered rural areas.

Nicknamed the Land of Enchantment, the state has a rich indigenous history and an active art scene that contribute to its unique culture.

If you're thinking of buying or selling in New Mexico, these New Mexico housing predictions and stats can help you make an informed decision.

Want to save money when you buy or sell your home? With Clever, you'll only pay 1% or $3K in listing fees. Eligible buyers get 0.5% cash back after closing. Find out how much you can save with Clever today!

Selling a home in New Mexico

New Mexico real estate market forecast for sellers
⏰ Homes are selling 8 days faster than the annual average
💰 Homes are selling for $14,822 more than the annual average
💸 Average listing commission: 2.86%
💸 Average buyer's commission: 3.36%

How to sell a home in New Mexico

Cost to sell a home in New Mexico

💰 Save thousands on realtor fees with Clever

List with the best agents in your area for just $3,000 or 1%. On average, Clever sellers save $9,000 on commission!

Our agent matching service is 100% free with zero obligation.

Buying a home in New Mexico

How much home you can buy with $300,000 in...
🏠 Albuquerque: 1,714 sq ft
🏡 Santa Fe: 1,020 sq ft
🏡 Las Cruces: 2,080 sq ft
🏠 Farmington: 2,220 sq ft

Investing in New Mexico real estate

Best of New Mexico

Each month, we compare cities in New Mexico based on different criteria. This month, we're looking at affordability and ranking the best cities in the state.

Most Affordable Cities in New Mexico
1. Hobbs
2. Gallup
3. Roswell
4. Alamogordo

Ready to buy a home in New Mexico? Eligible buyers get cash back with Clever!

Worst of New Mexico

Each month, we compare cities in New Mexico based on a different criteria. This month we're looking at affordability data. These are the cities that ranked the worst in the state.

Least Affordable Cities in New Mexico
1. Santa Fe
2. Farmington
3. Albuquerque
4. Las Cruces

New Mexico resources

👋 Next Steps: Talk to an expert!

If you're weighing your options for buying or selling a house, Clever can help!

Our fully-licensed concierge team is standing by to answer questions and provide free, objective advice on getting the best outcome with your sale or purchase.

Ready to get started?

Give us a call at 1-833-2-CLEVER or enter your info below. Our concierge team will be in touch shortly to help.

Remember, this service is 100% free and there’s never any obligation.

Methodology

Clever's analysis of state market trends is based on local data from Zillow, realtor.com, Redfin, S&P Global, the U.S. Census, and Clever surveys. Our team of over 20 real estate analysts from across the country research local markets and data to compile our "Best" and "Worst" rankings.

Better real estate agents at a better rate

Enter your zip code to see if Clever has a partner agent in your area.

If you don't love your Clever partner agent, you can request to meet with another, or shake hands and go a different direction. We offer this because we're confident you're going to love working with a Clever Partner Agent.