As of September 3, 2026, the median list price in ZIP code 87501 (downtown / historic east side Santa Fe) is $845,000 across 289 active listings. For residential homes (single-family and attached), the median list price is $1,395,000 at a median of $572 per square foot. 53 new listings hit the market in the last 30 days. With 38 listings under contract (13.1% of inventory), conditions point to a balanced-to-buyer's market.
ZIP 87501 Market Snapshot (zip-level data)
| Metric | Value |
|---|---|
| Active listings (inventory) | 289 |
| Median list price | $845,000 |
| Average (mean) list price | $1,306,803 |
| Middle 50% price range (P25–P75) | $380,000 – $1,575,000 |
| Median price per sqft | $538/sqft |
| Median days on market | 78 days |
| New listings (last 30 days) | 53 |
| Under contract | 38 (13.1%) |
| Median year built | 1982 |
| Median living area | 1,750 sqft |
What Homes Actually Sold For in ZIP 87501 (closed-sale data)
| Metric | Value |
|---|---|
| Homes sold (last 12 months) | 217 |
| Median sale price (12 mo) | $990,700 |
| Median sold $/sqft (12 mo) | $497/sqft |
| Sale-to-list ratio (12 mo) | 96.8% |
| Median days on market, sold homes (12 mo) | 24 days |
| Homes sold (last 90 days) | 59 |
| Median sale price (90 days) | $972,000 |
| Months of inventory (true absorption) | 4.4 months |
Sales by Price Band (last 12 months)
| Price band | Closed sales |
|---|---|
| Under $400K | 10 sales (5%) |
| $400K–$700K | 49 sales (23%) |
| $700K–$1M | 50 sales (23%) |
| $1M–$2M | 73 sales (34%) |
| Over $2M | 35 sales (16%) |
By Property Type
| Property type | Inventory | Median list price | Median $/sqft | Median DOM |
|---|---|---|---|---|
| Residential (single-family & attached homes) | 119 | $1,395,000 | $572 | 60 |
| Condominium / townhome | 69 | $525,000 | $490 | 77 |
| Vacant land & lots | 69 | $289,000 | — | 279 |
| Multi-family | 3 | $899,000 | — | — |
Frequently Asked Questions
What is the median home price in ZIP 87501, New Mexico?
As of September 3, 2026, the median list price in ZIP code 87501 (downtown / historic east side Santa Fe) is $845,000 across 289 active listings (all property types). For residential homes specifically, the median list price is $1,395,000.
What is the average price per square foot in ZIP 87501, NM?
The median price per square foot in ZIP code 87501 (downtown / historic east side Santa Fe) is $538/sqft (mean $586/sqft), based on 188 listings with reported square footage, as of September 3, 2026.
How long do homes take to sell in ZIP 87501, NM?
Active listings in ZIP code 87501 (downtown / historic east side Santa Fe) show a median of 78 days on market (mean 146 days) as of September 3, 2026. Well-priced homes in high-demand segments move faster than the median.
Is ZIP 87501 a buyer's or seller's market right now?
Current data points to a balanced-to-buyer's market in ZIP code 87501 (downtown / historic east side Santa Fe): only 13% of listed inventory is under contract — buyers have negotiating room (38 of 289 listings under contract as of September 3, 2026).
What price range covers most homes for sale in ZIP 87501, NM?
The middle 50% of active listings in ZIP code 87501 (downtown / historic east side Santa Fe) are priced between $380,000 and $1,575,000. Listings range from $29,900 up to $18,000,000, so segment matters — averages alone can mislead.
What do homes actually sell for in ZIP 87501, NM?
Over the last 12 months, 217 homes closed in ZIP code 87501 (downtown / historic east side Santa Fe) at a median sale price of $990,700 ($497/sqft). Sellers received a median 96.8% of their final list price. Data through September 3, 2026; aggregate MLS sold data from the SFAR and SWMLS boards.
How fast are homes selling in ZIP 87501, NM?
Homes that closed in ZIP code 87501 (downtown / historic east side Santa Fe) over the last 12 months went under contract in a median of 24 days on market. At 4.4 months of inventory, supply and demand are roughly balanced (6 months is the classic equilibrium benchmark).
Data source & methodology: Active-listing statistics computed from Santa Fe Association of REALTORS® (SFAR) MLS data as displayed via IDX on buysellnewmexico.com, snapshot date September 3, 2026. Geographic bin: ZIP code 87501 (downtown / historic east side Santa Fe) (bin type: zip). Closed-sale statistics computed from board-direct SFAR MLS sold records (as of 2026-08-17), de-duplicated across boards for dual-listed properties. New Mexico is a non-disclosure state: only aggregate sold statistics (medians, counts, ratios) are published — never individual sale prices. Median values are used in preference to averages to limit distortion from luxury-segment outliers. Metrics with insufficient reporting samples are omitted rather than estimated. Prepared by Matthew Scarborough — Scarborough Realty Group, Keller Williams Santa Fe.