Ledes from the Land of Enchantment

Areas with the most expensive homes near Santa Fe

(STACKER) – Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of May 4, 2022, the 30-year fixed mortgage rate sits at 5.73%. As a result of higher mortgage rates across the board, home prices have risen significantly. According to the National Association of Realtors, the national median home price is $375,300—up from just over $356,000 this time last year.

Areas with the most expensive homes near Albuquerque

Although home prices have inflated all across the US, there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it’s good to educate yourself on the market in different cities.

Stacker compiled a list of cities with the most expensive homes in Santa Fe using data from Zillow. Cities are ranked by the Zillow Home Values ​​Index for all homes as of March 2022. Cities with at least three years of historical data were included. The charts in this story were created automatically using Matplotlib.

#6. Santa Cruz, N.M

– Typical home value: $292,916
– 1-year price change: +22.1%
– 5-year price change: +44.5%

#5. Cerrillos, NM

– Typical home value: $336,009
– 1-year price change: +6.4%
– 5-year price change: +44.4%

#4. Edgewood, NM

– Typical home value: $344,372
– 1-year price change: +19.7%
– 5-year price change: +60.0%

#3. Stanley, NM

– Typical home value: $377,921
– 1-year price change: +23.4%
– 5-year price change: +63.4%

#2. Santa Fe, N.M

– Typical home value: $539,924
– 1-year price change: +20.4%
– 5-year price change: +55.1%

#1. Lamy, NM

– Typical home value: $768,964
– 1-year price change: +24.4%
– 5-year price change: +58.1%

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