Real-Time Real Estate Market Report

Belen, NM 87002

Single-Family Homes

Have the Market Insight Before You Buy or Sell



Belen, NM 87002

Thu Feb 29 2024
This week the median list price for Belen, NM 87002 is $298,000 with the market action index hovering around 42. This is an increase over last month's market action index of 41. Inventory has decreased to 39. 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.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Belen, NM 87002

Thu Feb 29 2024
This week the median list price for Belen, NM 87002 is $298,000 with the market action index hovering around 42. This is an increase over last month's market action index of 41. Inventory has decreased to 39. 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.

Slight Seller's Advantage

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Belen market.
Median List Price $298,000
Median Price of New Listings $435,000
Per Square Foot $203
Average Days on Market 97
Median Days on Market 84
Price Decreased 23%
Price Increased 15%
Relisted 5%
Inventory 39
Median Rent
Market Action 42
Slight Seller's Advantage

Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate from these levels.

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
$660,000 2,397 2.5 - 5 acres 3 2 34 1 1 105
$344,500 2,042 0.5 - 1 acre 3 2.5 42 3 3 28
$284,400 1,362 6,500 - 8,000 sqft 3 2 2 1 0 143
$248,450 1,418 6,500 - 8,000 sqft 3 2 14 2 4 17