New Mexico ranks at 23 out of 100 against 51 states, based on how often homes sold above list, how close to list they sold, how fast they sold, supply and price drops.
The numbers
| March–May 2026 | A year earlier | Change | |
|---|---|---|---|
| Homes sold above list price | 4% | 4% | +0.7 pts |
| Average sale-to-list ratio | 98.7% | 95.1% | +3.6 pts |
| Median days on market | 63 | 58 | +5 |
| Months of supply | 4.8 | 4.7 | +1.9% |
| Listings with a price drop | 22% | 22% | +0.2 pts |
| Median sale price | $379,141 | $361,110 | +5.0% |
| Median price per sq ft | $222 | $224 | −0.9% |
| Homes sold | 2644 | 2592 | +2.0% |
The trend
Cities and towns in New Mexico
| City | Heat score | ZIP codes |
|---|---|---|
| White Rock | 68 · Hot | 1 |
| Edgewood | 50 · Warm | 1 |
| Farmington | 49 · Warm | 1 |
| Santa Fe | 23 · Balanced | 3 |
| Las Cruces | 19 · Cool | 1 |
| Sunland Park | 16 · Cool | 1 |
All 55 places, A to Z
Albuquerque
Arroyo Seco
Berino
Boles Acres
Cannon AFB
Chamberino
Cordova
Corrales
Costilla
Cuartelez
Cubero
Dixon
Dora
Edgewood
Farmington
Flora Vista
Gallup
Hobbs
Holloman AFB
Isleta
Jarales
Kirtland AFB
La Jara
La Luz
La Plata
Las Cruces
Loco Hills
McIntosh
Medanales
Mesilla
Milan
North Hobbs
Orogrande
Paguate
Peralta
Placitas
Playas
Polvadera
Ponderosa
Rio Rancho
Rio Rancho Estates
Ruidoso
San Rafael
Santa Clara
Santa Fe
South Valley
Sunland Park
Timberon
Tome
Tyrone
University Park
Ute Park
Villanueva
White Rock
Whites City
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Methodology
The heat score ranks an area against every other area of the same kind (ZIP codes against ZIP codes, cities against cities, states against states) on five measures from Redfin’s Data Center: the share of homes sold above list price (35%), the average sale-to-list ratio (20%), median days on market (20%, fewer is hotter), months of supply (15%, fewer is hotter) and the share of listings with a price drop (10%, fewer is hotter). Each measure is a percentile rank, and the score is their weighted average, from 0 to 100.
Figures cover a trailing three-month window, weighted by sales, and are compared with the same three months a year earlier: a single month in a small ZIP code can be a handful of sales. An area needs at least 30 sales in the last 12 months, 10 in the window, and the three core measures to be scored. Redfin doesn’t publish months of supply or price drops for ZIP codes, so ZIP scores use the measures available. City figures come from Redfin’s own city series where it publishes one, and otherwise from a sales-weighted roll-up of the city’s ZIP codes. ZIP codes are assigned to cities using the Census Bureau’s 2020 ZIP-to-place, town and county relationships, and named with the Postal Service’s city names from HUD’s crosswalk.
BindingOffers, “How hot is the New Mexico housing market? (May 2026)”, using data provided by Redfin, a national real estate brokerage. https://bindingoffers.com/market-pulse/nm