Real-Time Real Estate Market Report
Belen, NM 87002
Single-Family Homes
Have the Market Insight Before You Buy or Sell
Belen, NM 87002
Mon Dec 11 2023
This week the median list price for Belen, NM 87002 is $285,000 with the market action index hovering around 40. This is an increase over last month's market action index of 39. Inventory has decreased to 53.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $285,000 | |
| Median Price of New Listings | $276,900 | |
| Per Square Foot | $185 | |
| Average Days on Market | 111 | |
| Median Days on Market | 70 | |
| Price Decreased | 38% | |
| Price Increased | 26% | |
| Relisted | 4% | |
| Inventory | 53 | |
| Median Rent | ||
| Market Action | 40 | |
| Slight Seller's Advantage | ||
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
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 |
|---|---|---|---|---|---|---|---|---|
| $575,000 | 2,424 | 2.5 - 5 acres | 3 | 3 | 36 | 1 | 2 | 105 |
| $299,900 | 1,841 | 6,500 - 8,000 sqft | 4 | 2 | 2 | 0 | 2 | 70 |
| $276,900 | 1,362 | 6,500 - 8,000 sqft | 3 | 2 | 0 | 2 | 2 | 28 |
| $223,500 | 1,457 | 0.25 - 0.5 acre | 3 | 2 | 58 | 2 | 0 | 59 |