Is Elida, NM 88116 a buyer’s or seller’s market?

3 months ending August 31, 2026 · Source: Redfin

Elida 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 list0%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$70

The Elida housing market right now

In the three months ending August 31, 2026, 0% of homes in Elida, NM 88116 sold above their list price. With only 1 sale, these figures can swing a lot from month to month.

About the area

Roosevelt County, NM

Population	394
Median income	$54,239
Average income	$109,781
Owner-occupied	76% of homes
Median year built	1964

Natural hazard riskWildfire (very high), winter storms (very high), extreme heat (relatively high)

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 88116; hazard risk from the FEMA National Risk Index for the census tracts in this ZIP code (not endorsed by FEMA).

Run the numbers for 88116

Prefilled for 88116Can I win this house?Multiple-offer likelihood for a listing Prefilled for 88116Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Pep 88126 — /sq ft Portales 88130Seller’s market $112 /sq ft Browse all markets →

Where Elida is

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Questions about Elida real estate

Do homes in Elida sell over asking?

0% of homes sold above their original list price.

What are property taxes in Elida?

About 0.45% of a home’s value a year in Roosevelt County, or roughly $1,800 on a $400,000 home.

What is the median home price in Elida?

The median sale price was $119,848 in the three months ending August 31, 2026, about $70 per square foot.

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More tools for 88116

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 Roosevelt County property taxes Roosevelt 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