Is City Limits Southwest, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, City Limits Southwest has remained a Seller's Market.
Housing Prices in City Limits Southwest, NM
How much do homes in City Limits Southwest, NM cost?
Median Sold Price
$575,000
$399/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in City Limits Southwest was $575,000 in May 2024, up 9.3% from last year, and the median price per square foot was $399.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $284K | $345K | +21.5% |
2 Bedrooms | $491K | $547K | +11.4% |
3 Bedrooms | $575.7K | $595K | +3.3% |
4 Bedrooms | $690K | $620K | -10.1% |
5+ Bedrooms | $1.7M | $735K | -58.0% |
Summary: City Limits Southwest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.5%, 2 bedroom homes increased by 11.4%, 3 bedroom homes increased by 3.3%, 4 bedroom homes decreased by 10.1%, and 5+ bedroom homes decreased by 58%.
Housing Supply in City Limits Southwest, NM
How many homes are available in City Limits Southwest, NM?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 60 | +25.0% |
Summary: The City Limits Southwest real estate market had 60 homes for sale in May 2024, a 25.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 5 | +150.0% |
2 Bedrooms | 16 | 18 | +12.5% |
3 Bedrooms | 21 | 24 | +14.3% |
4 Bedrooms | 7 | 8 | +14.3% |
5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The City Limits Southwest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 12 | -14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in City Limits Southwest in May 2024, down by 14.3% month-over-month. Of the 12 sold homes, 42% were sold under asking, 0% were sold at asking, and 58% were sold over asking.
Days on Market for City Limits Southwest, NM
How long does it take to sell a home in City Limits Southwest, NM?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
21 Days | 12 Days | -41.0% |
Summary: Homes in City Limits Southwest had an average of 12 days on market in May 2024, down by 41% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in City Limits Southwest; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.