Real-Time Real Estate Market Report
Belen, NM 87002
Single-Family Homes
Have the Market Insight Before You Buy or Sell
Belen, NM 87002
Tue Mar 28 2023
This week the median list price for Belen, NM 87002 is $301,900 with the market action index hovering around 43. This is an increase over last month's market action index of 39. Inventory has increased to 51.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $301,900 | |
| Median Price of New Listings | $275,000 | |
| Per Square Foot | $178 | |
| Average Days on Market | 99 | |
| Median Days on Market | 42 | |
| Price Decreased | 41% | |
| Price Increased | 20% | |
| Relisted | 8% | |
| Inventory | 51 | |
| Median Rent | ||
| Market Action | 43 | |
| Slight Seller's Advantage | ||
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
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 |
|---|---|---|---|---|---|---|---|---|
| $685,500 | 2,660 | 5 - 10 acres | 3 | 3 | 36 | 2 | 1 | 66 |
| $334,900 | 2,114 | 6,500 - 8,000 sqft | 4 | 3 | 1 | 3 | 1 | 70 |
| $275,000 | 1,515 | 6,500 - 8,000 sqft | 3 | 2 | 0 | 4 | 2 | 42 |
| $220,000 | 1,245 | 6,500 - 8,000 sqft | 3 | 2 | 28 | 4 | 3 | 28 |