Market Conditions Report

Belen, NM 87002

Single-Family Homes

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Belen, NM 87002

Sat Nov 27 2021
This week the median list price for Belen, NM 87002 is $329,000 with the market action index hovering around 48. This is an increase over last month's market action index of 46. Inventory has held steady at or around 43. Click here to stay informed with the Belen market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Belen, NM 87002

Sat Nov 27 2021
This week the median list price for Belen, NM 87002 is $329,000 with the market action index hovering around 48. This is an increase over last month's market action index of 46. Inventory has held steady at or around 43. Click here to stay informed with the Belen market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

While the Market Action Index shows some strengthening in the last few weeks, prices have settled in a bit of a plateau. We are currently in a Seller’s market so prices will likely resume their climb should this trend persist.

Real-Time Market Profile

Never miss important changes in the Belen market.
Median List Price $329,000
Median Price of New Listings $184,900
Per Square Foot $157
Average Days on Market 90
Median Days on Market 63
Price Decreased 33%
Price Increased 14%
Relisted 9%
Inventory 43
Median Rent
Market Action 48
Strong Seller's Market

While the median price in this zip code hasn’t moved much in the last few weeks, we are relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$767,000 3,107 2.5 - 5 acres 3 3 18 1 0 52
$441,000 2,457 2.5 - 5 acres 3 2 26 2 1 63
$280,000 1,818 0 - 4,500 sqft 4 2 28 1 2 70
$165,000 1,376 4,500 - 6,500 sqft 2 2 49 5 4 28