Is Montezuma, NM 87731 a buyer’s or seller’s market?
Montezuma is a buyer’s market. With about 16 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Montezuma housing market right now
In the three months ending August 31, 2026, 0% of homes in Montezuma, NM 87731 sold above their list price, the typical home went under contract in 50 days and there were 16 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 1 sale, these figures can swing a lot from month to month.
Within San Miguel County, homes here sell faster than in 75% of the county’s ZIP codes, and sell 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 87731
Nearby markets
Conchas Dam 88416Balanced $128 /sq ftIlfeld 87538Seller’s market $207 /sq ftLas Vegas 87701Balanced $147 /sq ftPecos 87552Buyer’s market $976 /sq ft Browse all markets →Where Montezuma is
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Questions about Montezuma real estate
Is Montezuma a buyer’s or seller’s market?
A buyer’s market: there were 16 months of supply in Montezuma, NM 87731 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 Montezuma?
The typical home went under contract in 50 days in the latest three months.
Do homes in Montezuma sell over asking?
0% of homes sold above their original list price.
What are property taxes in Montezuma?
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 Montezuma?
The median sale price was $284,877 in the three months ending August 31, 2026, about $438 per square foot.
Local agents
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology