NMAR News:
SANTA FE — The New Mexico Association of Realtors (NMAR) reports that across New Mexico, the housing market showed a seasonal slowdown in November 2025, with both month-over-month and year-over-year declines in sales activity, while prices remained relatively stable.
A total of 1,320 homes sold statewide in November, down 25.5 percent from October 2025 and down 11.7 percent compared to November 2024.
The median sold price was $355,818, edging down nearly 1.2 percent from the prior month but still up 2.0 percent year-over-year, indicating continued price resilience despite softer sales volumes as the market moved further into the late fall season.
County Comparisons (5 Most Populous Counties)
Bernalillo County
In Bernalillo County, market activity slowed in November, reflecting typical seasonal trends while prices held relatively steady. The County recorded 458 home sales, down 25.9 percent from October 2025 and 7.8% lower than November 2024. The median sold price was $357,000, a 3.4 percent month-over-month decrease and essentially flat year-over-year, dipping just 0.7 percent compared to last November. Homes spent an average of 42 days on the market, up slightly from October and longer than a year ago, while pending listings totaled 553, down from the prior month and roughly in line with last year—signaling softer short-term demand as the market moved deeper into late fall.
Sandoval County
In Sandoval County, the housing market cooled in November, with sales activity declining both month-over-month and year-over-year, even as prices showed modest monthly gains. The County posted 147 home sales in November, down 20.1 percent from October 2025 and 24.6 percent lower than November 2024. The median sold price rose to $380,000, a 2.4 percent increase from the prior month, but was down 1.3 percent compared to a year earlier. Homes spent an average of 65 days on the market, up notably from October and longer than last November, pointing to slower buyer movement. Pending listings totaled 212, edging up slightly from October and standing well above last year’s level, suggesting continued underlying interest despite slower closings.
Santa Fe County
In Santa Fe County, November market activity eased from October levels while remaining steady compared to a year ago, as prices stayed elevated despite a seasonal cooldown in sales. The County recorded 153 home sales in November, down 32.0 percent from October 2025 and unchanged from November 2024. The median sold price was $655,000, down nearly 3.0 percent month-over-month from October but up almost 12 percent year-over-year compared to last November, reflecting continued price strength even with fewer transactions. Homes spent an average of 66 days on the market, slightly longer than in October and notably higher than last year, while pending listings totaled 154—down from the prior month and modestly below last November—indicating a slower pace heading into the winter season.
Doña Ana County
In Doña Ana County, the housing market showed mixed signals in November, with sales easing from the prior month but improving compared to a year ago, while prices remained largely stable. The County reported 147 home sales in November, down 20.5 percent from October 2025 but up 7.3 percent compared to November 2024. The median sold price was $323,000, a modest 1.3 percent increase month-over-month, but essentially flat year-over-year, dipping just 0.3 percent from last November. Homes spent an average of 70 days on the market, slightly longer than in October but faster than a year ago, suggesting steady buyer engagement. Pending listings totaled 179, down from the previous month but higher than last year, pointing to continued demand despite the seasonal slowdown.
Chaves County
In Chaves County, November brought a slowdown in sales activity compared to both the prior month and last year, while prices showed notable gains. The County recorded 30 home sales in November, down 28.6 percent from October 2025 and 26.8 percent lower than November 2024. The median sold price rose to $274,750, a significant 24.9 percent increase month-over-month and up 30.8 percent year-over-year, reflecting stronger pricing despite fewer transactions. Homes spent an average of 76 days on the market, longer than in October but faster than a year ago, while pending listings totaled 44—slightly below the prior month but above last year’s level—suggesting continued buyer interest even as closings slowed seasonally.
