New Mexico housing market
Statewide listing data for September 2026, the latest month Realtor.com® Economic Research has published, with two years of history. Checked October 8, 2026.
New Mexico at a glance
SouthwestSource: Realtor.com® Economic Research (New Mexico, September 2026). Asking prices and active listings, not closed sales.
What the data says
- There are 7.7% more homes for sale in New Mexico than a year ago.
- The median asking price is roughly flat over the past year.
- 22% of active listings have had at least one price reduction.
- The typical listing spends 80 days on the market, 5 days longer than a year ago.
Repeat sales and appraisals of the same homes, published quarterly with a lag of about two months.
Two-year trend
Median listing price, New Mexico
| Period | Value |
|---|---|
| 2024-09-01 | $397K |
| 2024-10-01 | $399K |
| 2024-11-01 | $390K |
| 2024-12-01 | $389K |
| 2025-01-01 | $388K |
| 2025-02-01 | $390K |
| 2025-03-01 | $390K |
| 2025-04-01 | $399K |
| 2025-05-01 | $400K |
| 2025-06-01 | $410K |
| 2025-07-01 | $411K |
| 2025-08-01 | $405K |
| 2025-09-01 | $400K |
| 2025-10-01 | $400K |
| 2025-11-01 | $400K |
| 2025-12-01 | $393K |
| 2026-01-01 | $387K |
| 2026-02-01 | $387K |
| 2026-03-01 | $390K |
| 2026-04-01 | $397K |
| 2026-05-01 | $400K |
| 2026-06-01 | $407K |
| 2026-07-01 | $406K |
| 2026-08-01 | $405K |
| 2026-09-01 | $399K |
Homes for sale, New Mexico
| Period | Value |
|---|---|
| 2024-09-01 | 5,716 |
| 2024-10-01 | 5,765 |
| 2024-11-01 | 5,667 |
| 2024-12-01 | 5,283 |
| 2025-01-01 | 4,963 |
| 2025-02-01 | 4,937 |
| 2025-03-01 | 5,163 |
| 2025-04-01 | 5,454 |
| 2025-05-01 | 5,955 |
| 2025-06-01 | 6,586 |
| 2025-07-01 | 6,771 |
| 2025-08-01 | 6,866 |
| 2025-09-01 | 6,799 |
| 2025-10-01 | 6,804 |
| 2025-11-01 | 6,585 |
| 2025-12-01 | 6,244 |
| 2026-01-01 | 5,834 |
| 2026-02-01 | 5,713 |
| 2026-03-01 | 5,890 |
| 2026-04-01 | 6,187 |
| 2026-05-01 | 6,482 |
| 2026-06-01 | 6,808 |
| 2026-07-01 | 7,050 |
| 2026-08-01 | 7,212 |
| 2026-09-01 | 7,322 |
Listings follow a seasonal pattern each year; compare a month with the same month a year earlier.
New Mexico compared with the U.S.
Compare with another state| Measure | New Mexico | United States |
|---|---|---|
| Median listing price | $399,475 (−0.1% y/y) | $419,250 (−1.4% y/y) |
| Homes for sale | 7,322 (+7.7% y/y) | 1,161,615 (+5.4% y/y) |
| Median days on market | 80 days (+5 days y/y) | 61 days (Unchanged y/y) |
| Listings with a price cut | 21.5% (+2.3 pts y/y) | 20.8% (+0.9 pts y/y) |
| Median list price per sq ft | $217 (+0.8% y/y) | $223 (−1.7% y/y) |
Sources: Realtor.com® Economic Research (New Mexico, September 2026); Realtor.com® Economic Research (United States, September 2026). “y/y” is the change from the same month a year earlier.
An affordability illustration
Run your own numbersThe inputs
- Median listing price (September 2026)$399,475
- Down payment20% ($79,895)
- Loan amount$319,580
- Rate: 30-year fixed, national (Week of Oct 1, 2026)7.28%
- Median household income, New Mexico (2025)$67,620
This is an illustration, not a lender calculation. It leaves out property taxes, homeowners insurance, mortgage insurance and HOA dues, which can add several hundred dollars or more a month. The rate is a national average for strong-credit borrowers; your rate may differ.
Sources: Realtor.com® Economic Research (New Mexico, September 2026); Freddie Mac Primary Mortgage Market Survey, via FRED, Federal Reserve Bank of St. Louis (United States, Week of Oct 1, 2026); U.S. Census Bureau, Current Population Survey, via FRED, Federal Reserve Bank of St. Louis (New Mexico, 2025).
Editor’s notes on New Mexico
Written March 2026; conditions may have changedNew Mexico offers a compelling combination of affordability, culture, and climate. Albuquerque is seeing tech growth from Sandia National Labs and a growing film industry. Santa Fe is a premium lifestyle and art market. The state has been a quiet beneficiary of Western migration.
For buyers
Albuquerque is one of the Southwest's best-value markets. Santa Fe's art market attracts cash buyers globally — expect competition on well-located properties.
For sellers
Highlight unique architectural features (adobe, territorial style) — they command genuine premiums here versus conventional construction.
These notes are background written by our editors in March 2026, before the data above. Where they differ, the dated figures on this page are more current.