Is Farmington, NM 87401 a buyer’s or seller’s market?

The Farmington housing market right now

In the three months ending August 31, 2026, 31% of homes in Farmington, NM 87401 sold above their list price, the typical home went under contract in 20 days and there were 1.8 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 114 home sales.

Compared with the same period a year earlier, the share selling over asking rose from 16%, homes sold about as fast and the median sale price rose 4% to $309,866. Overall, Farmington is more competitive than a year ago, so tougher for buyers.

Within San Juan County, homes here sell more slowly than in 83% of the county’s ZIP codes, and sell more often over asking than in 67%. On our competition score, Farmington ranks #2 of 51 NM ZIP codes with enough sales (score 73 out of 100).

Nearby, buyers who want less competition could look at La Plata 87418 (0% sold over asking) or Flora Vista 87415 (0% sold over asking), while Kirtland 87417 (67% sold over asking) and Bloomfield 87413 (50% sold over asking) are even more competitive.