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Featured local agent — Hobbs, NM
Sarah Mitchell
Compass Real Estate · Hobbs, NM
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Hobbs, NM Housing Market & Real Estate
Housing market overview · Updated monthly ·
$279,950median sale price
How is the Hobbs, NM housing market right now?
The median home sale price in Hobbs, NM is $279,950, down 0.0% year-over-year. Homes sell in an average of 7 days with 35 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Hobbs a buyer's or seller's market?
Hobbs, NM is currently a strong seller's market, based on 1.3 months of supply and homes selling in about 7 days. How we determine this →
Homes sold
28
Last 12 weeks
Days on market
7
Fast-moving
Active listings
35
1.3 months supply
Sale-to-list
—
Below asking
What does the Hobbs housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $279,950 |
| Median list price | $265,000 |
| Year-over-year price change | -0.0% |
| Average days on market | 7 days |
| Active inventory | 35 listings |
| Months of supply | 1.3 months |
| Median price per sq ft | $157/sq ft |
| Homes sold (latest month) | 28 |
| New listings (latest month) | 27 |
| Listings with a price cut | 34.3% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Hobbs by property type?
How the Hobbs, NM market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $273,000 | $157/sq ft | 27 | 7 days |
| Townhouse | $223,750 | $156/sq ft | 4 | 44 days |
Source: Redfin · Updated monthly
The Hobbs housing market is currently classified as a strong seller's market with a median sale price of $279,950. Prices have fallen 0.0% compared to last year, with homes spending an average of 7 days on market, indicating 1.3 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 3.3x provides context for how home values compare to local earning capacity.
Homes for sale in Hobbs
There are currently 35 homes listed for sale in Hobbs, New Mexico. The median listing price is $265K.
Active listings
35
Homes on market
Median list price
$265K
Avg. days on market
7
Days until sale
New this week
27
Newly listed
Who lives in Hobbs?
Population
39,887
Median income
$65,691/yr
Median age
31.7 years
Owner-occupied
62.8%
College grads
16.6%
Avg commute
24.9 min
Source: U.S. Census Bureau ACS
What are homes worth in Hobbs?
Zillow home value
$217,746
Zillow rent index
$1,497/mo
Price-to-rent ratio
12.1x
Price-to-income
3.3x
Source: Zillow Research
What is it like to live in Hobbs?
Hobbs is a community of approximately 40K residents with a median age of 31.7 years.The median household income is $65,691, which represents a working-class community with solid middle-income opportunities. 16.6% of residents hold a bachelor's degree or higher, showing a mixed educational demographic.
Homeownership rates are at 62.8%, showing a blend of owner and renter-occupied properties. The average commute time is 24.9 minutes, which makes this an excellent choice for those seeking short commutes to employment centers.Overall, Hobbs offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Hobbs?
19 schools tracked · 10,153 students
The largest public schools serving Hobbs, NM by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
HOBBS HIGH
Grades 9-12 · 2,291 students
HOBBS FRESHMAN HIGH
Grades 9-10 · 828 students
HOUSTON MIDDLE SCHOOL
Grades 6-9 · 824 students
HIGHLAND MIDDLE SCHOOL
Grades 6-8 · 812 students
HEIZER MIDDLE SCHOOL
Grades 6-8 · 580 students
COLLEGE LANE ELEMENTARY
Grades K-5 · 523 students
SOUTHERN HEIGHTS ELEMENTARY
Grades PK-5 · 445 students
MURRAY ELEMENTARY
Grades PK-5 · 443 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Hobbs, NM?
Want a head-to-head view? Compare Hobbs side-by-side with any other U.S. city using our market-comparison tool.
Is Hobbs a good real estate investment market?
For investors evaluating Hobbs, the price-to-rent ratio of 12.1x suggests potential rental yield opportunity, making the market attractive for income-focused investors. The market has softened 0.0% year-over-year, potentially creating entry opportunities for strategic buyers.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Hobbs's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Hobbs's median home price.
Frequently asked questions
What is the average home price in Hobbs?
The median home sale price in Hobbs is $279,950, down 0.0% from last year.
How long do homes stay on market in Hobbs?
Homes typically spend 7 days on market before going under contract.
What is the median income in Hobbs?
The median household income is $65,691 per year.
Is Hobbs a buyer's or seller's market?
With 1.3 months of supply, Hobbs is currently a strong seller's market.
What is the Zillow home value estimate for Hobbs?
The Zillow Home Value Index (ZHVI) for Hobbs is $217,746, representing the typical home value in the area.
How much does a single-family home cost in Hobbs?
The median single-family home price in Hobbs, NM is $273,000 (about $157 per square foot).
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