Is Belen, NM a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Belen has remained a Seller's Market.
Housing Prices in Belen, NM
How much do homes in Belen, NM cost?
Median Sold Price
$268,450
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Belen was $268,450 in April 2024, up 5.7% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $92K | - | N/A |
2 Bedrooms | $153.9K | $175K | +13.7% |
3 Bedrooms | $255.9K | $267.9K | +4.7% |
4 Bedrooms | $300.9K | $321.4K | +6.8% |
5+ Bedrooms | $338.9K | $333.4K | -1.6% |
Summary: Belen housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 13.7%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 1.6%.
Housing Supply in Belen, NM
How many homes are available in Belen, NM?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
80 | 81 | +1.3% |
Summary: The Belen real estate market had 81 homes for sale in April 2024, a 1.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 2 | +100.0% |
2 Bedrooms | 9 | 8 | -11.1% |
3 Bedrooms | 49 | 53 | +8.2% |
4 Bedrooms | 19 | 16 | -15.8% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Belen housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 8.2%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
18 | 17 | -5.6% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 17 homes were sold or pending in Belen in April 2024, down by 5.6% month-over-month. Of the 17 sold homes, 29% were sold under asking, 53% were sold at asking, and 18% were sold over asking.
Days on Market for Belen, NM
How long does it take to sell a home in Belen, NM?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
70 Days | 35 Days | -48.8% |
Summary: Homes in Belen had an average of 35 days on market in Apr 2024, down by 48.8% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 17 homes were sold in Belen; 71% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.