Is Lemitar, NM 87823 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Lemitar 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.

Months of supply—Under 4 months = seller’s market

Sold above original list—Share of sales, last 3 months

Median sale-to-list—Sold price ÷ list price

Median days on market—Listing to accepted offer

Median price per sq ft—

The Lemitar housing market right now

There haven’t been enough recent sales here for a detailed summary yet.

About the area

Socorro County, NM

Population	441
Average income	$62,208
Median home value	$97,700
Owner-occupied	100% of homes
Median year built	1982

Natural hazard riskWildfire (relatively high), winter storms (moderate), hail (moderate)

Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (household income; home value as estimated by owners), ZIP code tabulation area 87823; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 87823

Prefilled for 87823Can I win this house?Multiple-offer likelihood for a listing Prefilled for 87823Over-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 ft Magdalena 87825 — /sq ft San Acacia 87831Buyer’s market $164 /sq ft San Antonio 87832 — /sq ft Browse all markets →

Where Lemitar is

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Questions about Lemitar real estate

What are property taxes in Lemitar?

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

Local agents

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More tools for 87823

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 taxes Socorro County loan limits Closing costs in New Mexico Hottest ZIP codes in New Mexico

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