Is Ilfeld, NM 87538 a buyer’s or seller’s market?
Ilfeld is a seller’s market. With about 3.2 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Ilfeld housing market right now
In the three months ending August 31, 2026, 0% of homes in Ilfeld, NM 87538 sold above their list price, the typical home went under contract in 342 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 1 sale, these figures can swing a lot from month to month.
Within San Miguel County, homes here sell more slowly, and less often over asking, than in any other ZIP code in the county.
Nearby, Las Vegas 87701 (8% sold over asking) is even more competitive.
Run the numbers for 87538
Nearby markets
Conchas Dam 88416Balanced $128 /sq ftLas Vegas 87701Balanced $147 /sq ftMontezuma 87731Buyer’s market $438 /sq ftPecos 87552Buyer’s market $976 /sq ft Browse all markets →Where Ilfeld is
Loading map…
Questions about Ilfeld real estate
Is Ilfeld a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Ilfeld, NM 87538 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Ilfeld?
The typical home went under contract in 342 days in the latest three months.
Do homes in Ilfeld sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 95.8% of the list price.
What are property taxes in Ilfeld?
About 0.57% of a home’s value a year in San Miguel County, or roughly $2,280 on a $400,000 home.
What is the median home price in Ilfeld?
The median sale price was $698,698 in the three months ending August 31, 2026, about $207 per square foot.
Local agents
See all agents in 87538 →No sponsored agents in 87538 yet. Are you an agent here? Put your name in front of local buyers.
More tools for 87538
Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology