As of September 9, 2026, the median list price in ZIP code 87501 (downtown / historic east side Santa Fe) is $800,000 across 297 active listings. For residential homes (single-family and attached), the median list price is $1,359,250 at a median of $571 per square foot. 58 new listings hit the market in the last 30 days. With 43 listings under contract (14.5% of inventory), conditions point to a balanced-to-buyer's market.
ZIP 87501 Market Snapshot (zip-level data)
| Metric | Value |
|---|---|
| Active listings (inventory) | 297 |
| Median list price | $800,000 |
| Average (mean) list price | $1,297,611 |
| Middle 50% price range (P25–P75) | $380,000 – $1,560,000 |
| Median price per sqft | $538/sqft |
| Median days on market | 73 days |
| New listings (last 30 days) | 58 |
| Under contract | 43 (14.5%) |
| Median year built | 1982 |
| Median living area | 1,700 sqft |
What Homes Actually Sold For in ZIP 87501 (closed-sale data)
Closed-sale data: detached single-family homes in ZIP 87501, SFAR MLS. Trailing 12 months through September 9, 2026. Inventory and pending counts in this section use that same snapshot date.
| Metric | Value |
|---|---|
| Homes sold (last 12 months) | 215 |
| Median sale price (12 mo) | $1,025,000 |
| Median sold $/sqft (12 mo) | $497/sqft |
| Median days on market, sold homes (12 mo) | 27 days |
| Original asking price received (median, 12 mo) | 94.8% of original asking price |
| Sold above / below final asking (12 mo) | 8% sold over asking (while 75% sold under) |
| Final asking price received (median, 12 mo) | 96.7% of final asking price |
| Homes sold (last 90 days) | 58 |
| Median sale price (90 days) | $1,017,500 |
| Months of inventory (true absorption) | 4.3 months |
Sales by Price Band (last 12 months)
| Price band | Closed sales |
|---|---|
| Under $400K | 9 sales (4%) |
| $400K–$700K | 47 sales (22%) |
| $700K–$1M | 49 sales (23%) |
| $1M–$2M | 72 sales (33%) |
| Over $2M | 38 sales (18%) |
By Property Type
| Property type | Inventory | Median list price | Median $/sqft | Median DOM |
|---|---|---|---|---|
| Residential (single-family & attached homes) | 124 | $1,359,250 | $571 | 57 |
| Condominium / townhome | 72 | $532,000 | $491 | 68 |
| Vacant land & lots | 69 | $289,000 | — | 279 |
| Multi-family | 3 | $750,000 | — | — |
Frequently Asked Questions
What is the median home price in ZIP 87501, New Mexico?
As of September 9, 2026, the median list price in ZIP code 87501 (downtown / historic east side Santa Fe) is $800,000 across 297 active listings (all property types). For residential homes specifically, the median list price is $1,359,250.
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 $584/sqft), based on 196 listings with reported square footage, as of September 9, 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 73 days on market (mean 142 days) as of September 9, 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 14% of listed inventory is under contract — buyers have negotiating room (43 of 297 listings under contract as of September 9, 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 $1,560,000. 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 12 months through September 9, 2026, 215 detached single-family homes closed in ZIP code 87501 (downtown / historic east side Santa Fe) at a median sale price of $1,025,000 ($497/sqft). Sellers received a median 94.8% of original asking price. Aggregate MLS sold data from SFAR.
How fast are homes selling in ZIP 87501, NM?
For detached single-family homes that closed in ZIP code 87501 (downtown / historic east side Santa Fe) in the 12 months through September 9, 2026, median recorded days on market was 27. At 4.3 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) and Southwest MLS (SWMLS) data as displayed via IDX on buysellnewmexico.com, snapshot date September 9, 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 for detached single-family homes (as of 2026-09-09), 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.