OfferBackedBuyer Tools

Is Socorro, NM 87801 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Socorro is a buyer’s market. With about 8.5 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply8.5Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list96.6%Sold price ÷ list price
Median days on market59Listing to accepted offer
Median price per sq ft$145▼ −3.1% vs. last year

The Socorro housing market right now

In the three months ending August 31, 2026, 0% of homes in Socorro, NM 87801 sold above their list price, the typical home went under contract in 59 days and there were 8.5 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 12 home sales.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (36 days then) and the median sale price fell 22% to $209,909. Overall, Socorro is less competitive than a year ago, which gives buyers more room.

Run the numbers for 87801

Prefilled for 87801Can I win this house?Multiple-offer likelihood for a listing Prefilled for 87801Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Bosque 87006Seller’s market $233 /sq ftLemitar 87823 — /sq ftMagdalena 87825 — /sq ftSan Acacia 87831Buyer’s market $164 /sq ft Browse all markets →

Towns like Socorro nearby

Find towns like Socorro in other states →
Magdalena, NM87825 · 21 miles away12% similarcheaper homes ($61K less) · smaller Veguita, NM87062 · 31 miles away5% similarlower income ($26K less) · cheaper homes ($101K less)

Where Socorro is

Loading map…

Questions about Socorro real estate

Is Socorro a buyer’s or seller’s market?

A buyer’s market: there were 8.5 months of supply in Socorro, NM 87801 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 Socorro?

The typical home went under contract in 59 days in the latest three months.

Do homes in Socorro sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 96.6% of the list price.

What are property taxes in Socorro?

About 0.61% of a home’s value a year in Socorro County, or roughly $2,440 on a $400,000 home.

What is the median home price in Socorro?

The median sale price was $209,909 in the three months ending August 31, 2026, about $145 per square foot.

Local agents

See all agents in 87801 →

No sponsored agents in 87801 yet. Are you an agent here? Put your name in front of local buyers.

Save this ZIP (free account)

More tools for 87801

Competition score Buyer leverage Negotiation room Compare with other ZIP codes True cost to buy Property taxes Closing costs Cash buyers Backup offer odds Home value Socorro County property taxesSocorro County loan limitsClosing costs in New MexicoHottest ZIP codes in New Mexico
Add this to your website

Free to use. Paste this code where you want the live widget to appear. It updates automatically. More widgets

Sizes itself to fit. If your site builder removes scripts, use “iframe only”.

Preview

Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology