Is Santa Fe, NM 87505 a buyer’s or seller’s market?

The Santa Fe housing market right now

In the three months ending August 31, 2026, 10% of homes in Santa Fe, NM 87505 sold above their list price, the typical home went under contract in 56 days and there were 6.6 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. That’s based on 106 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (8% then), homes sold more slowly (51 days then) and the median sale price rose 7% to $650,034. Overall, Santa Fe is about as competitive as it was a year ago.

Within Santa Fe County, homes here sell faster than in 80% of the county’s ZIP codes, and sell more often over asking than in 80%. On our competition score, Santa Fe ranks #44 of 51 NM ZIP codes with enough sales (score 19 out of 100).

Nearby, buyers who want less competition could look at Santa Cruz 87567 (0% sold over asking) or Glorieta 87535 (0% sold over asking), while Edgewood 87015 (14% sold over asking) is even more competitive.