With November numbers just in, New Mexico’s housing market continues to set records.

“New Mexico November numbers generally show a decrease from those reported in October, which is true even this year. However, the 2,613 sales reported to the New Mexico Association of REALTORS (NMAR) for the month of November 2018, are over 30% higher than sales recorded in the last five Novembers,” according to Connie Hettinga, NMAR President. “November year-to-date sales numbers are ahead of the year-end total for 2017.”

November’s numbers bring the 2018 year-to-date total sales to 29,595 – over 7,000 sales more than those reported for all of 2017.

Steven Anaya, NMAR CEO, reports “November’s median sales price was $208,000 while the year-to-date median has been $200,000 for six consecutive months.” Median price indicates that half the properties sold for a higher price and half sold for a lower price.

The National Association of REALTORS (NAR) has predicted nationwide, 2018 will show a 3% decrease in sales from those reported in 2017. Obviously New Mexico is an exception to national trends. The state’s economy continues to perform well, with a increase in oil and gas markets and employment in many areas.

The average November days on market for listings statewide is 79. Eight New Mexico counties report an average days-on-market below this number.

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.

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Statistical information and trends are based on information furnished by New Mexico Member Boards and MLSs to the NATIONAL ASSOCIATION OF REALTORS. Current reporting participants are: Greater Albuquerque Association of REALTORS, Las Cruces Association of REALTORS MLIS, New Mexico MLS (Artesia, Carlsbad, Clovis/Portales, Deming, Gallup, Grants, Hobbs, Las Vegas, Sierra County areas), Otero County Association of REALTORS, Roswell Association of REALTORS, Ruidoso/Lincoln County Association of REALTORS, Santa Fe Association of REALTORS, San Juan County Board of REALTORS, Silver City Regional Association of REALTORS, and the Taos County Association of REALTORS. Reports represent single family residential data only.  Information does not necessarily represent all activity in any market/county. Figures based on reports run 12/16/2018. Visit here (housing trends) for county statistics.

The New Mexico Association of REALTORS is one of the state’s largest trade associations, representing over 6,500 members involved in all aspects of the residential and commercial real estate market.