New Mexico started 2025 with a total of 4,498 single-family homes on the market, with a median home price of $399,000 and an average price per square foot of $240.30. By the end of the year, inventory had increased to 5,405 homes on the market (+20%), with a median home price of $410,000 (+3%), and an average price per square foot of $255 (+6%).
At the start of 2025, the median days on market (DOM) was 91 days – by the end of the year, median DOM had increased to 98 days.
New Mexico started the year with 31.64% of homes taking a price cut. (For reference, 35% is the national average for price reductions in a "normal" year.) By the end of the year, about 34.58% of homes for sale had taken a price cut.
Finally, Altos’ proprietary Market Action Index (MAI) shows that New Mexico started 2025 as a buyer's market, with an MAI score of 29; by the end of the year, the MAI had increased to 32 – a seller's market.Market Update for June 9, 2026
