Is Santa Fe, NM 87506 a buyer’s or seller’s market?

The Santa Fe housing market right now

In the three months ending August 31, 2026, 6% of homes in Santa Fe, NM 87506 sold above their list price, the typical home went under contract in 62 days and there were 6.8 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 71 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 11%, homes sold faster (68 days then) and the median sale price rose 6% to $1,534,336. Overall, Santa Fe is less competitive than a year ago, which gives buyers more room.

Within Santa Fe County, homes here sell more slowly than in 60% of the county’s ZIP codes, and sell more often over asking than in 50%. On our competition score, Santa Fe ranks #49 of 51 NM ZIP codes with enough sales (score 11 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) and Lamy 87540 (10% sold over asking) are even more competitive.