“As expected, New Mexico continues to still set record numbers in housing sales, with inventory staying steady. We may see extended growth as more people are searching for an alternate work-from-home space”, according to Danny Wm. Vigil, NMAR President.
The median home sale price for New Mexico rose again ending the month with $282,500. This is an increase of 18% over June of 2020, $231,000 and an increase of 4% over last month May, $270,000. Santa Fe County is reporting the highest median sold price of $487,500.
“Real Estate in New Mexico has been one of the bright spots in the economy. Sales continue to rise at 2,569 compared to 2,334 in June 2020”, says Steven Anaya, NMAR, CEO. “We are starting to see an increase in inventory due to new housing stat’s and more homeowners are listing their properties.”
Real Estate activity resulted in a total volume of over $903,861,570 in June 2021, another new high for June since NMAR began keeping statistics in 2008. June 2020 generated a volume of $640,497,587.
New Mexico is also showing the average days-on-market down to 42 from 61 this time last year.
New Mexico REALTORS® will continue to follow COVID safe practices.
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; they can provide information on specific trends in your neighborhood.