Is Canones, NM 87516 a buyer’s or seller’s market?
Canones is a balanced market. With about null months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
The Canones housing market right now
In the three months ending August 31, 2026, 0% of homes in Canones, NM 87516 sold above their list price and the typical home went under contract in 60 days. With only 1 sale, these figures can swing a lot from month to month.
The median sale price was $554,760, or about $347 per square foot.
Within Rio Arriba County, homes here sell faster than in 64% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, El Rito 87530 (50% sold over asking) and Espanola 87532 (38% sold over asking) are even more competitive.
Run the numbers for 87516
Nearby markets
Abiquiu 87510Buyer’s market $209 /sq ftAlcalde 87511 — /sq ftBlanco 87412Buyer’s market $156 /sq ftCanjilon 87515 — /sq ft Browse all markets →Where Canones is
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Questions about Canones real estate
How fast do homes sell in Canones?
The typical home went under contract in 60 days in the latest three months.
Do homes in Canones sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 96.5% of the list price.
What are property taxes in Canones?
About 0.42% of a home’s value a year in Rio Arriba County, or roughly $1,680 on a $400,000 home.
What is the median home price in Canones?
The median sale price was $554,760 in the three months ending August 31, 2026, about $347 per square foot.
Local agents
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More tools for 87516
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology