Is Santa Fe, NM 87508 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 87508 sold above their list price, the typical home went under contract in 66 days and there were 5.7 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 83 home sales.

Compared with the same period a year earlier, the share selling over asking fell from 13%, homes sold more slowly (50 days then) and the median sale price fell 1% to $699,697. 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 90% of the county’s ZIP codes, and sell more often over asking than in 60%. On our competition score, Santa Fe ranks #47 of 51 NM ZIP codes with enough sales (score 14 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.