Market Intelligence · NM
New Mexico home prices and housing market.
Real market data across 6 cities and 30 ZIP markets in NM. The typical home is worth about $281K.
The typical home value in New Mexico is $281K as of August 2026, up 4.0% from a year ago, based on the Zillow Home Value Index. In the typical New Mexico ZIP code, the median list price is $381K and homes spend a median of 93 days on market as of September 2026 (Realtor.com).
Prices over time
New Mexico home prices over time
Typical home values in New Mexico are up 4.0% over the past year, from $271K in August 2025 to $282K in August 2026.
| Month | Typical value | 1-yr change |
|---|---|---|
| August 2026 | $282,082 | +4.0% |
| August 2025 | $271,299 | No prior year |
Typical value is the median Zillow Home Value Index across New Mexico ZIP codes, taken in August of each year so every row compares the same month.
Market balance
Is New Mexico a buyer's or seller's market?
New Mexico leans toward a buyer's market.
Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate.
Based on a median of 93 days on market and 0% of listings with a price cut in the typical New Mexico ZIP code, and 1,880 new listings against 7,379 active listings across New Mexico, as of September 2026 (Realtor.com).
Market board
Which New Mexico markets have the highest home values?
As of August 2026
- 1Santa Fe, NM$647,966Up1.1%5 ZIP markets; open the Santa Fe, NM market page
- 2White Rock, NM$590,275Down0.3%1 ZIP market; open the White Rock, NM market page
- 3Rio Rancho, NM$361,574Up0.7%2 ZIP markets; open the Rio Rancho, NM market page
- 4Albuquerque, NM$354,361Up1.7%16 ZIP markets; open the Albuquerque, NM market page
- 5Las Cruces, NM$293,549Down1.2%5 ZIP markets; open the Las Cruces, NM market page
- 6Hobbs, NM$248,272Up5.7%1 ZIP market; open the Hobbs, NM market page
Typical value is the median Zillow home value (ZHVI) across each city's ZIP codes, as of August 2026. 1-yr change compares that median to the same ZIPs a year earlier. More NM markets publish as their data clears editorial QA.
Zillow ZHVI, August 2026
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Cities
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Common questions
Questions about New Mexico home prices.
What is the typical home price in New Mexico?
The typical home price in New Mexico is about $281K as of August 2026, based on the Zillow Home Value Index (the median of the index across New Mexico ZIP codes). In the typical New Mexico ZIP code, the median list price is $381K as of September 2026 (Realtor.com), which reflects what sellers are asking rather than what homes sell for.
Are home prices going up or down in New Mexico?
Typical home values in New Mexico are up 4.0% over the past year, based on the Zillow Home Value Index as of August 2026.
Is New Mexico a buyer's or seller's market?
New Mexico leans toward a buyer's market. Homes are taking longer to sell and homes for sale are building up relative to new listings, which gives buyers more room to negotiate. Based on a median of 93 days on market and 0% of listings with a price cut in the typical New Mexico ZIP code, and 1,880 new listings against 7,379 active listings across New Mexico, as of September 2026 (Realtor.com).
How long do homes take to sell in New Mexico?
In the typical New Mexico ZIP code, homes spend a median of 93 days on market as of September 2026, based on Realtor.com listing data. Pricing and condition decide how fast any one home sells, so treat the median as a benchmark rather than a promise.
The market is moving