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Market Intelligence · NM / Santa Fe

Santa Fe, NM 87508 Housing Market

The typical home in Santa Fe, NM 87508 is valued at $643,401 as of September 2026, up 1.0% over the past year. The median list price is $747,250, and homes are spending a median of 77 days on market.

Updated September 2026Median value$643K

The median home value in Santa Fe, NM 87508 is $643K as of September 2026, up 1.0% 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 87508 range

$592K to $695K

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

+1.0% over 12 months

Typical home value in 87508 over the last 12 months: $637K in Sep 2025 to $643K in Sep 2026 (+1.0%).

Sep 2025$637K

Sep 2026$643K

The numbers

What is the 87508 housing market like?

Typical home value

$643K

Up1.0%YoY

Median list price

$747K

Down0.1%MoM

Days on market

77

Up11.6%MoM

Homes for sale

111

Flat0.0%MoM

Price cuts

24.6%

Up22.6%MoM

New listings

34

Up41.7%MoM

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

The outlook

87508 housing market forecast 2027

+1.3%

Zillow forecast, 12 months to September 2027

Zillow forecasts typical home values in 87508 to rise 1.3% by September 2027.

Over the 12 months through September 2026, typical home values in 87508 rose 1.0%, per the Zillow Home Value Index.

Will home prices drop in 87508?

Zillow's forecast does not call for a drop: it expects typical home values in 87508 to rise 1.3% by September 2027, after a 1.0% 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 87508 home prices compare?

  • 87508$643,401
  • 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

Home values in 87508 have held fairly steady, with the typical home value at $643,401, up 1.0% over the past year as of September 2026. There were 111 homes for sale, with 34 new listings coming on during the same period. Sellers are asking well above typical values, with the median list price at $747,250. Homes are taking time to sell, sitting a median of 77 days on market, and 24.6% of listings have taken a price cut. For a seller, the message is that pricing realistically from the start matters in this market, because overpriced homes are getting reduced.

Monthly payment

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20% · $128,680

Common questions

What people ask us.

How much is a home in 87508 worth?

The typical home value in 87508 is $643,401 as of September 2026, up 1.0% over the past year.

How long does it take to sell a home in 87508?

Homes in 87508 are spending a median of 77 days on market as of September 2026.

Are sellers cutting prices in 87508?

Yes. As of September 2026, 24.6% of listings in 87508 have taken a price cut.

Discover

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