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Cheap Homes for Sale in New Mexico

542 Homes for Sale

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Price CutPrice Drop: $19K
Photo 1 of Sale Pending at NM | 701 Riata Rd,NM 88352 | MLS# 1107813 | Listing updated on 2026-10-21

$180,000

Views: 3

Bedrooms: 3Bds

Bathrooms: 2Ba

Area: 1,680sqft

Sale Pending

701 Riata Rd, null, NM 88352

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New Mexico Housing Market Overview

New Mexico is a balanced market, giving buyers and sellers room to negotiate. With 4.2 months of supply and homes averaging 68 days on the market, you can make decisions without the pressure of a highly competitive market.

Status

Balanced Market

Days on Market

68

Inventory

3,178

Oct 2021Jul 2024Oct 2026

Median Home Price

$369,925Up 1.14%

In Oct 2026 · YoY

Oct 2021Jul 2024Oct 2026

Mortgage Rates 30-Yr Fixed

7.18%Down 0.06%

Current rate · YoY

Loan Type

30-Year Fixed

Housing Supply

Homes For Sale
3,178 Down 55.37%
Newly Listed Homes
1,135 Down 4.54%
Months of Supply
4.2 Down 46.84%

Housing Demand

Homes Sold
758 Down 15.96%
Sale-to-List Ratio
0% Down 0.00%
Homes Sold Above List
0% Down 0.00%

30-yr fixed rate 7.18% · Data as of Oct 2026 · Source: Houzeo Research.

View Full New Mexico Market Report
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84
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79
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66
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48
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45
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42
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42
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34
Houses for Sale in Enchanted Hills, Rio Rancho
33
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29
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29
Houses for Sale in Anderson Heights, Albuquerque
28
Houses for Sale in Trumbull Village, Albuquerque
28
Houses for Sale in West Mesa, Albuquerque
26
Houses for Sale in Vineyard Estates, Albuquerque
24
Houses for Sale in La Mesa, Albuquerque
23
Houses for Sale in Nor Este, Albuquerque
23
Houses for Sale in Near North Valley, Albuquerque
21
Houses for Sale in Victory Hills, Albuquerque
21
Near North Valley, Albuquerque Neighborhood Guide
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  • mls-imgIDX Logo
    Based on information from the Greater Albuquerque Association of REALTORS® (alternatively, from the Southwest MLS) through Nov 6, 2026, 7:00 AM. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by The Service. © 2026 Greater Albuquerque Association of REALTORS®. All Rights Reserved.
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Homes Available icon

542

Homes Available

Median List Price icon

$ 369,925

Median List Price

Avg on Market icon

68 Days

Avg on Market