10 cities with year-over-year price decreases
-23.1%
Biggest Drop
-8.0%
Avg Decline
Price drops can signal buying opportunities. These markets may offer better negotiating leverage and more affordable entry points compared to last year.
| # | City | YoY Change | Median Price | Days on Market | Months Supply |
|---|---|---|---|---|---|
| 1 | Hobbs | -23.1% | $219K | 39 days | 1.3 mo |
| 2 | Las Campanas | -20.8% | $2.08M | 113 days | 8.8 mo |
| 3 | Ruidoso | -9.0% | $343K | 130 days | 9.9 mo |
| 4 | Silver City | -7.4% | $246K | 247 days | 6.5 mo |
| 5 | White Rock | -7.1% | $493K | 32 days | 2.3 mo |
| 6 | Deming | -4.3% | $220K | 9 days | 3.9 mo |
| 7 | Farmington | -4.1% | $279K | 40 days | 2.9 mo |
| 8 | Lovington | -2.0% | $250K | 7 days | 1.4 mo |
| 9 | Santa Fe | -1.5% | $508K | 77 days | 4.4 mo |
| 10 | Alamogordo | -0.8% | $238K | 54 days | 4.1 mo |
10 cities in New Mexico are experiencing year-over-year price declines. The largest drop is in Hobbs at -23.1%.
Price drops can create buying opportunities, but timing the market is difficult. Work with a local agent who understands whether a market is stabilizing or may continue to decline.
Work with a local agent who can help you identify value in changing markets.
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