Home ValuePros

Market Intelligence · NM / Lea County

Hobbs, NM home prices and housing market

1 ZIP market liveData updated September 2026Typical value$242K1-yr changeUp5.4%

The typical home value in Hobbs, NM is $242K as of September 2026, up 5.4% from a year ago, based on the Zillow Home Value Index. In the typical Hobbs ZIP code, the median list price is $317K and homes spend a median of 46 days on market as of September 2026 (Realtor.com).

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The coverage

Hobbs, by the numbers.

Typical home valueZillow ZHVI, September 2026
$242K
1-yr changeMedian across Hobbs ZIPs
+5.4%
ZIP markets live4 tracked in Hobbs
1
County
Lea County

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12-month value trend

+5.4% over 12 months

Typical home value in Hobbs over the last 12 months: $230K in Sep 2025 to $242K in Sep 2026 (+5.4%).

Sep 2025$230K

Sep 2026$242K

Median Zillow home value index across Hobbs's ZIP codes.

Context

The typical Hobbs home was worth $242,173 as of September 2026, up 5.4% over the past year. Sellers were asking considerably more, with a median list price of $317,250. Inventory remained limited at 58 homes for sale, though 46 new listings came on the market during the same period. Homes took a median of 46 days to sell. Only 9.5% of listings had a price cut, suggesting most sellers were holding firm and buyers were meeting them near asking. For a Hobbs homeowner thinking about selling, the citywide data points to steady demand and modest supply, a reasonable backdrop for listing if your own situation calls for it.

The numbers

What is the housing market like in Hobbs, NM?

Typical home value

$242K

Up5.4%YoY

Median list price

$317K

Days on market

46

Homes for sale

58

Price cuts

9.5%

New listings

46

Sources · Zillow ZHVI (September 2026) / Realtor.com (September 2026)

Figures reflect Hobbs's ZIP codes with market data: values and listing medians take the median across ZIPs; inventory and new listings are summed.

Prices over time

Hobbs, NM home prices over time

Typical home values in Hobbs, NM are up 5.4% over the past year, from $230K in September 2025 to $242K in September 2026.

Typical home value in Hobbs, NM, September of each year
MonthTypical value1-yr change
September 2026$242,173+5.4%
September 2025$229,684No prior year

Typical value is the median Zillow Home Value Index across Hobbs ZIP codes, taken in September of each year so every row compares the same month.

Market balance

Is Hobbs, NM a buyer's or seller's market?

Hobbs, NM leans toward a seller's market.

Relatively few listings have cut their asking price and homes for sale are scarce relative to new listings, which usually gives sellers the stronger position.

Based on a median of 46 days on market and 10% of listings with a price cut in the typical Hobbs ZIP code, and 46 new listings against 58 active listings across Hobbs, as of September 2026 (Realtor.com).

The outlook

Hobbs housing market forecast 2027

-0.7%

Weighted average of Zillow's ZIP forecasts, 12 months to September 2027

A weighted average of Zillow's ZIP forecasts, across 2 Hobbs ZIP codes, points to typical home values falling 0.7% by September 2027.

Over the 12 months through September 2026, typical home values in Hobbs rose 5.4%, per the Zillow Home Value Index.

Will home prices drop in Hobbs?

The forecasts point that way: a weighted average of Zillow's ZIP forecasts for Hobbs shows typical home values falling 0.7% by September 2027, after a 5.4% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

How this is calculated: each ZIP code's 12-month Zillow forecast is weighted by its typical home value (Zillow Home Value Index, September 2026). 2 Hobbs ZIP codes have both figures.

Forecast: a weighted average of Zillow's ZIP forecasts (Zillow Home Value Forecast, published October 2026), calculated by Home Value Pros. A forecast, not a guarantee.

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Live markets

What ZIP codes are live in Hobbs?

Typical value is the Zillow home value index (ZHVI) for each ZIP, as of September 2026. 1-yr change compares it to the same ZIP a year earlier. We track 4 Hobbs ZIP codes in total; the remaining 3 publish as their data clears editorial QA.

Zillow ZHVI, September 2026

Local pros

Who are the top real estate agents in Hobbs?

Top real estate agents in Hobbs, NM

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Common questions

Questions about Hobbs, NM home prices.

How much is a home in Hobbs worth?

The typical home value in Hobbs was $242,173 as of September 2026, up 5.4% over the past year. That is a citywide figure, so your own home may be worth more or less depending on its condition and location.

How long does it take to sell a home in Hobbs?

Homes in Hobbs spent a median of 46 days on the market as of September 2026. With only 58 homes for sale citywide, sellers face limited competition.

Are Hobbs sellers cutting their prices?

As of September 2026, 9.5% of Hobbs listings had a price cut. That is a small share, which suggests most sellers were getting offers close to their asking price.

Are home prices going up or down in Hobbs, NM?

Typical home values in Hobbs, NM are up 5.4% over the past year, based on the Zillow Home Value Index as of September 2026.

Is Hobbs, NM a buyer's or seller's market?

Hobbs, NM leans toward a seller's market. Relatively few listings have cut their asking price and homes for sale are scarce relative to new listings, which usually gives sellers the stronger position. Based on a median of 46 days on market and 10% of listings with a price cut in the typical Hobbs ZIP code, and 46 new listings against 58 active listings across Hobbs, as of September 2026 (Realtor.com).

Nearby markets

More New Mexico housing markets.

The market is moving

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