New Mexico Home Values: County-by-County Breakdown & Market Trends (April 2025)

Exploring New Mexico home values reveals a diverse and dynamic real estate landscape. The April 2025 data from the Zillow Home Value Index (ZHVI) for counties across the state offers insights into current property valuations and emerging market trends. Understanding these local New Mexico home values is key for buyers, sellers, and anyone interested in the state’s housing market.

The “New Mexico Home Values Heat Map” displays the wide range of property values in New Mexico. Darker shades on the map, especially in areas like Los Alamos County, highlight the highest typical New Mexico home values, which lead the state at an average of $596,254. Following closely is Santa Fe County, with a strong average of $560,794. Conversely, counties such as De Baca (Ft Sumner) demonstrate more accessible New Mexico home values, with typical properties valued at $93,293, offering different opportunities within the housing market in New Mexico.

Image: Change in New Mexico Home Values by County – April 2025

Beyond static prices, the “Change in New Mexico Home Values” map underscores the evolving nature of the market over the past year (April 2024 to April 2025). This visual tool uses a color gradient to pinpoint counties where New Mexico home values have appreciated versus those that have seen a downturn.

Key County Insights for New Mexico Home Values (April 2025):

- Hotspots for Growth in Home Values: Otero County (Alamogordo) shows a significant 9.51% year-over-year increase, adjusting its typical home value to $234,036. Other counties with strong growth in New Mexico home values include Quay County (Tucumcari) (+7.62% to $112,367) and De Baca County (+6.15% to $93,293). Los Alamos also registered a healthy 5.57% rise in its already high home values.
- Counties with Highest Home Values: As noted, Los Alamos County ($596,254) and Santa Fe County ($560,794) continue to command the highest New Mexico home values. Santa Fe saw a modest 0.38% annual increase, but its high baseline maintains its top-tier position.
- More Affordable New Mexico Home Values: For those seeking more affordable options, counties like De Baca ($93,293), Quay ($112,367), and Hidalgo ($113,450) present some of the lowest typical New Mexico home values.
- Shifting Tides in Property Values: Some counties experienced a decrease in their typical New Mexico home values. Grant County (Silver City) noted the largest dip at -5.77% (average home value $192,010), with Taos County (-5.16% to $453,284) and Lincoln County (-3.05% to $354,770) also seeing reductions.
- Stable Markets: Several counties demonstrated minimal change in their New Mexico home values, such as Socorro County, with a marginal 0.02% increase to $190,057.
- Data Note: For Guadalupe, Harding, and Mora counties, data indicates no year-over-year change in home values, or data was not available for this period.

Spotlight on New Mexico’s Most Populated Counties: Home Values

Delving deeper into New Mexico home values, it’s insightful to look at the state’s most populated areas. As of April 2025, these major counties present a varied landscape of property values and recent growth:

- - Bernalillo County: The typical home value stands at $345,905, with a year-over-year increase of +2.78%.
  - Doña Ana County: Here, the typical home value is $289,389, reflecting a +1.32% change from the previous year.
  - Santa Fe County: Commanding one of the highest New Mexico home values, the typical value is $560,794, with a modest year-over-year change of +0.38%.
  - Sandoval County: Typical home values are around $373,030, showing a +2.37% increase year-over-year.
  - San Juan County: This county offers a typical home value of $258,368, and has seen a notable year-over-year growth of +4.16%.

This data highlights that even within the most populated regions, the trends and current New Mexico home values can differ significantly, offering diverse opportunities and considerations for residents and investors.

Understanding the Current State of New Mexico Home Values

The landscape of New Mexico home values presents a mosaic of diverse local markets. For those navigating New Mexico real estate—whether buying, selling, or simply observing—understanding these county-level property values in NM is crucial. Current trends show some areas with rapid appreciation in home values in New Mexico, while others offer stability or more negotiable conditions. These insights into New Mexico home values should help you better understand the housing market across the Land of Enchantment.

Disclaimer: Data based on Zillow Home Value Index (ZHVI) for April 2025. Market conditions and New Mexico home values can change rapidly.