Market Intelligence · NM / Santa Fe

Santa Fe, NM 87506 Housing Market

The typical home in Santa Fe's 87506 ZIP code is worth $1,098,763, up 1.9% over the past year as of September 2026. The median list price sits at $1,992,500, and homes are spending a median of 98 days on the market.

Updated September 2026Median value$1099K

The median home value in Santa Fe, NM 87506 is $1.1M 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 87506 range

$1.01M to $1.19M

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$1.08M

Low $1.08MHigh $1.1M

Sep 2026$1.1M

The numbers

What is the 87506 housing market like?

As of September 2026

Typical home value

$1.1M

1.9%YoY

Median list price

$1.99M

2.2%MoM

Days on market

14.0%MoM

Homes for sale

133

10.1%MoM

Price cuts

14.9%

1.4%MoM

New listings

42.9%MoM

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

The outlook

87506 housing market forecast 2027

+1.5%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 87506 to rise 1.5% by September 2027.

Over the 12 months through September 2026, typical home values in 87506 rose 1.9%, per the Zillow Home Value Index.

Will home prices drop in 87506?

Zillow's forecast does not call for a drop: it expects typical home values in 87506 to rise 1.5% 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 87506 home prices compare?

87506$1,098,763
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

As of September 2026, 87506 has 133 homes for sale, with 16 new listings coming on the market. The median list price is $1,992,500, while the typical home value is $1,098,763, up 1.9% over the past year. Homes here take a median of 98 days to sell, and 14.9% of listings have had a price cut. That gap between asking prices and actual values, combined with slow turnover, points to a market where sellers are testing high numbers and buyers are taking their time. For a seller, realistic pricing from day one matters more than hoping the market catches up.

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Down payment20% · $219,753

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Common questions

What people ask us.

How much is a home in 87506 worth?

The typical home value in 87506 is $1,098,763 as of September 2026, up 1.9% over the past year.

How long does it take to sell a home in 87506?

Homes in 87506 spend a median of 98 days on the market as of September 2026.

Are sellers cutting prices in 87506?

Yes. As of September 2026, 14.9% of listings in 87506 have had a price cut, out of 133 homes for sale.

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