Market Intelligence · NM / Santa Fe

Santa Fe, NM 87508 Housing Market

Typical home value in Santa Fe, NM 87508 is $658,576, up 0.8% over the past year. The median list price stands at $748,000, with homes taking 69 days to sell on average.

Updated August 2026Median value$648K

The median home value in Santa Fe, NM 87508 is $648K as of August 2026, up 1.1% year over year, according to Zillow ZHVI. Get your own home's value and a real cash offer in about two minutes, with sources shown and no obligation.

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Typical 87508 range

$596K to $700K

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

+1.1% over 12 months

Typical home value in 87508 over the last 12 months: $641K in Aug 2025 to $648K in Aug 2026 (+1.1%).

Aug 2025$641K

Aug 2026$648K

The numbers

What is the 87508 housing market like?

Typical home value

$648K

Up1.1%YoY

Median list price

$748K

Down0.7%MoM

Days on market

69

Up7.8%MoM

Homes for sale

111

Down2.6%MoM

Price cuts

20.1%

Up2.4%MoM

New listings

24

Down33.3%MoM

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

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The comparison

How do 87508 home prices compare?

  • 87508$647,966
  • Santa Fe$647,966
  • New Mexico$282,082
  • United States$288,625

Median Zillow home value (ZHVI), as of August 2026. Comparison levels are medians across every ZIP code with Zillow data (Santa Fe: 5 ZIPs; New Mexico: 153 ZIPs; United States: 26,265 ZIPs).

Context

There are 111 homes for sale in the ZIP, with 24 new listings as of August 2026. The median days on market of 69 suggests steady but not rushed buyer activity. One in five listings has seen a price cut, at 20.1%, indicating some seller adjustment in the face of the modest 0.8% annual value gain. For homeowners considering a sale, the combination of moderate inventory and price reductions points to a balanced market where pricing strategy matters more than scarcity.

Monthly payment

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20% · $129,593

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