Market Intelligence · NM / Santa Fe

Santa Fe, NM 87501 Housing Market

The typical home value in Santa Fe, NM 87501 is $732,038, up 1.9% over the past year as of September 2026. The median list price sits at $900,000, and homes spend a median of 80 days on market.

Updated September 2026Median value$732K

The median home value in Santa Fe, NM 87501 is $732K as of September 2026, up 1.9% year over year, according to Zillow ZHVI. For a read on your own home, start with a free consultation: a licensed local pro will walk you through your numbers and your options, with no obligation.

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Typical 87501 range

$673K to $791K

This is an automated estimate, not an appraisal. Actual value is determined by current market conditions and professional evaluation. It is provided for informational purposes only and is not an offer to buy or a promise of value.

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12-month value trend

+1.9% over 12 months

Sep 2025$719K

Low $717KHigh $732K

Sep 2026$732K

The numbers

What is the 87501 housing market like?

As of September 2026

Typical home value

$732K

1.9%YoY

Median list price

$900K

0.1%MoM

Days on market

8.1%MoM

Homes for sale

154

4.1%MoM

Price cuts

14.1%

37.9%MoM

New listings

11.1%MoM

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

The outlook

87501 housing market forecast 2027

+1.2%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 87501 to rise 1.2% by September 2027.

Over the 12 months through September 2026, typical home values in 87501 rose 1.9%, per the Zillow Home Value Index.

Will home prices drop in 87501?

Zillow's forecast does not call for a drop: it expects typical home values in 87501 to rise 1.2% by September 2027, after a 1.9% rise over the past 12 months. Forecasts are not guarantees: mortgage rates, inventory, and the wider economy can move values either way.

Forecast: Zillow Home Value Forecast, published October 2026. A forecast, not a guarantee.

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The comparison

How do 87501 home prices compare?

87501$732,038
Santa Fe$643,401
New Mexico$276,177
United States$285,347

Median Zillow home value (ZHVI), as of September 2026. Comparison levels are medians across every ZIP code with Zillow data (Santa Fe: 5 ZIPs; New Mexico: 153 ZIPs; United States: 26,262 ZIPs).

Context

Santa Fe 87501 had 154 homes for sale as of September 2026, with 40 new listings coming to market. The typical home value is $732,038, up 1.9% over the past year, which points to slow but positive appreciation. The median list price of $900,000 sits well above the typical value, and homes take a median of 80 days to sell. About 14.1% of listings have taken a price cut. For a seller, the takeaway is that buyers here are selective, so pricing realistically from the start matters more than testing the top of the range.

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Down payment20% · $146,408

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Common questions

What people ask us.

How much is a home in 87501 worth?

The typical home value in Santa Fe, NM 87501 is $732,038 as of September 2026, up 1.9% over the past year.

How long does it take to sell a home in 87501?

Homes in 87501 spend a median of 80 days on market as of September 2026.

Are sellers cutting prices in 87501?

Yes. About 14.1% of listings had a price cut as of September 2026, out of 154 homes for sale.

Discover

Nearby ZIP markets.

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