Is North Hills, 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, North Hills has remained a Seller's Market.
Housing Prices in North Hills, NM
How much do homes in North Hills, NM cost?
Median Sold Price
$970,000
$517/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in North Hills was $970,000 in May 2024, down 0.2% from last year, and the median price per square foot was $517.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $673.5K | $690K | +2.4% |
2 Bedrooms | $685K | $750K | +9.5% |
3 Bedrooms | $1.1M | $1.2M | +10.5% |
4 Bedrooms | $1.6M | $2.2M | +35.3% |
5+ Bedrooms | $3.6M | $1.6M | -53.6% |
Summary: North Hills housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.4%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes decreased by 53.6%.
Housing Supply in North Hills, NM
How many homes are available in North Hills, NM?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
66 | 71 | +7.6% |
Summary: The North Hills real estate market had 71 homes for sale in May 2024, a 7.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 26 | 25 | -3.8% |
3 Bedrooms | 28 | 32 | +14.3% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The North Hills housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 3.8%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
12 | 15 | +25.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 15 homes were sold or pending in North Hills in May 2024, up by 25.0% month-over-month. Of the 15 sold homes, 80% were sold under asking, 13% were sold at asking, and 7% were sold over asking.
Days on Market for North Hills, NM
How long does it take to sell a home in North Hills, NM?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
51 Days | 62 Days | +19.9% |
Summary: Homes in North Hills had an average of 62 days on market in May 2024, up by 19.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in North Hills; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.