Is Caballo, NM 87931 a buyer’s or seller’s market?
Caballo is a buyer’s market. With about 9.6 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Caballo housing market right now
In the three months ending August 31, 2026, 0% of homes in Caballo, NM 87931 sold above their list price, the typical home went under contract in 95 days and there were 9.6 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.
Run the numbers for 87931
Nearby markets
Arrey 87930 — /sq ftElephant Butte 87935Buyer’s market $166 /sq ftHillsboro 88042Balanced $200 /sq ftMonticello 87939 — /sq ft Browse all markets →Where Caballo is
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Questions about Caballo real estate
Is Caballo a buyer’s or seller’s market?
A buyer’s market: there were 9.6 months of supply in Caballo, NM 87931 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 Caballo?
The typical home went under contract in 95 days in the latest three months.
Do homes in Caballo sell over asking?
0% of homes sold above their original list price.
What are property taxes in Caballo?
About 0.52% of a home’s value a year in Sierra County, or roughly $2,080 on a $400,000 home.
What is the median home price in Caballo?
The median sale price was $158,931 in the three months ending August 31, 2026, about $124 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