Housing Market Indicates New Mexico is on Pace for a Record-Setting Year 

Spring is generally the peak season for the housing market, and March housing trends get things off to a great start! 
During March, 1,760 properties were reported as sold to the REALTORS Association of New Mexico (RANM), a 6.2% increase over the number reported sold in March 2016. A healthy March brings the first quarter 2017 total sales to 4,302 which is 7.7% ahead of first quarter 2016. 
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First quarter 2017 figures show nineteen reporting counties experienced an increase in number of sales from last year,” says 2017 RANM President Victoria Murph of Santa Fe. “Inventory is still tight in many areas, so homes that are priced right are selling quickly and sometimes with multiple offers.” RANM CEO Steven Anaya adds, “Median prices continue
to rise – up just over 4% statewide for first quarter 2017 compared to first quarter 2016. Buyers are realizing they need to act quickly before prices and mortgage interest rates go up.” 
2017 1st Quarter Sales: 4,302 
Median: $182,500 

2016 1st Quarter 
Sales 3,994 
Median: $175,000 

2015 1stQuarter 
Sales: 3,688 
Median: $169,125 

March 2017 
Sales: 1,760 
Median: $184,975 

March 2016 
Sales: 1,658 
Median: $179,000 

March 2015 
Sales: 1,549 
Median: $174,900 

“While New Mexico’s unemployment numbers continue to put a damper on home ownership for some, the housing market in many areas of the state is holding its own,” says Murphy. “Property sales have contributed over $1.013 billion to New Mexico’s economy during the first quarter of 2017.” Anaya adds “This is the first time since RANM started keeping statewide statistics in 2008 that the reported first quarter volume has topped $1 billion.” The trends and numbers reported are only a snapshot of market activity. If you are interested in buying or selling, consult a REALTOR familiar with your market area; he/she can provide information on specific trends in your neighborhood.