Reports to the New Mexico Association of REALTORS (NMAR) show the median price of a New Mexico property sold during June 2019 was $224,588. This is the highest monthly median reported since 2008 when NMAR began keeping statewide market statistics. Median price means half the properties sold for more; half for less.

“The June median brings the 2019 year to date median to $210,000, another high for New Mexico,” adds Paul Wilson, NMAR President. “Higher prices are good news for sellers, and the current low mortgage rates mean potential buyers with good credit are not priced out of the market.”

Lack of inventory in many areas contributes to the lowest monthly “average days-on-market” number in two years. Monthly 2018 through May 2019 average days-on-market range from 65 days to 86 days. The statewide average days-on-market in June 2019 was 59 days.

“Five New Mexico counties averaged less than 59 days-on-market in June,” reports NMAR CEO Steven Anaya, “with Los Alamos County averaging only 11 days-on-market. Metropolitan counties (Bernalillo, Dona Ana, Sandoval, and Santa Fe) reported the fewest days-on-market last month.”

June reported total sales of 2,290 are down just over 8% from May 2019, however the 2019 year-to-date total sales of 11,988 is ahead of 2008-2017 year-to-date numbers. “2018 was an exceptional year for sales in New Mexico,” reports Wilson, “however current numbers indicate 2019 numbers will be slightly higher than 2017 and second only to 2018.”

The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.

County by county stats are available at: https://www.nmrealtor.com/2019-housing-trends/.