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Featured local agent — Nogal, NM
Sarah Mitchell
Compass Real Estate · Nogal, NM
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Nogal, NM Housing Market
The typical home in Nogal, NM is worth $364,602, fell 5.3% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $235,000 (through May 2026). With homes going under contract in about 64 days, Nogal is a leaning buyer's. At today's 7.03% 30-year fixed rate, 20% down on a $364,602 home is about $1,946/mo in principal and interest.
Key numbers for Nogal, NM
Typical home value
$364,602
-5.3% in 12 months
Zillow, August 2026
Median sale price
$235,000
Last published period
Redfin, through September 2024
Days on market
64
Slow-moving
Redfin, through September 2024
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$30,982
Home costs 11.8x income
U.S. Census ACS, 2023
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Nogal a buyer's or seller's market?
Nogal, NM is a leaning buyer's and homes selling in about 64 days. We classify markets from months of supply, sale-to-list ratio and days on market together — no single number decides it.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Nogal housing market data show?
Every row below is Redfin's final published month for Nogal, NM. Redfin, through September 2024
| Metric | Value |
|---|---|
| Median sale price | $235,000 |
| Median price per sq ft | $158/sq ft |
| Median days on market | 64 days |
| Homes sold (that month) | 1 |
| Market condition | Leaning buyer's |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Nogal is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Nogal is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Nogal home prices moved?
Across the 9 months we hold for Nogal, NM, the median sale price fell 5.8%, from $249,500 in May 2021 to $235,000. The live Zillow value series has fell 5.3% in the last 12 months, which is the more current read now that Redfin's series has stopped.
Redfin, through September 2024 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Nogal?
Priced off the typical home value of $364,602 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $72,920 | $291,682 | $1,946/mo |
| 5% | $18,230 | $346,372 | $2,311/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $1,946, that implies roughly $83,419 a year before you add taxes and insurance. The median household in Nogal earns $30,982, about $52,437 short of that threshold — the typical local household needs a larger down payment, a co-borrower, or a home below the typical home value to fit the 28% rule. That puts the price-to-income ratio at 11.8x — well above the 3x that was historically considered affordable, which is why down payment size drives who can buy here.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Nogal in the next 12 months?
Tell us your timeline. We send the Nogal market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Nogal?
Zillow does not publish a rent index (ZORI) for Nogal, NM, so we cannot compute a price-to-rent ratio here without borrowing a nearby market's rents and calling them local — which we will not do. The rent vs. buy calculator works with a rent figure you supply.
Is inventory rising or falling in Nogal?
Active listings in Nogal, NM went from 2 in May 2021 to 1 in October 2022, a -50.0% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| May 2021 | 2 | not published |
| June 2021 | 2 | 1 |
| October 2021 | 1 | 1 |
| April 2022 | 2 | 1 |
| May 2022 | 1 | not published |
| October 2022 | 1 | 1 |
Redfin, through October 2022
How does Nogal compare to New Mexico and the U.S.?
Nogal homes sell for $235,000 — 41% below the New Mexico median of $395,500. Against the national median of $410,700, Nogal runs 43% lower.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Nogal, NM | $235,000 | not published | 64 days |
| New Mexico statewide | $395,500 | +10.8% | 53 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through September 2024 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Nogal
What buyers should watch
- The gap between 5% and 20% down here is $365 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $364,602 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Nogal listing goes under contract in 64 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Your equity moved -5.3% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Nogal varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Nogal
Explore homes currently listed for sale in Nogal, New Mexico across major real estate platforms.
How much do homes cost in Nogal by property type?
How the Nogal, NM market breaks down across single-family homes, condos and townhouses. Redfin, through September 2024
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $415,000 | $217/sq ft | 1 | 143 days |
Who lives in Nogal?
American Community Survey estimates for Nogal. U.S. Census ACS, 2023
Population
156
Households
69
Median income
$30,982/yr
Median age
47.9 years
Owner-occupied
66.7%
Median home value
$135,400
Mean commute
30.6 min
66.7% of occupied homes in Nogal are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $135,400 against Zillow's $364,602 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which cities are near Nogal, NM?
Ordered by distance from Nogal, not by size. Compare Nogal side by side with any of them.
Nogal housing market FAQ
Is Nogal a buyer's or seller's market?
Nogal, NM is currently a leaning buyer's based on the supply, pace-of-sale and sale-to-list data we hold for this city. Redfin's public market tracker last published in May 2026, so this classification will not move until a new source fills that gap.
How much do homes cost in Nogal?
The typical home in Nogal, NM is worth $364,602 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $235,000, about $158 per square foot.
Is Nogal cheaper than the rest of New Mexico?
Nogal's median sale price of $235,000 is 41% lower than the New Mexico statewide median of $395,500, and 43% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Nogal?
Homes in Nogal, NM spent a median of 64 days on market before going under contract, versus 53 days statewide. Over two months means buyers have time to inspect, compare and negotiate. (Redfin, through May 2026.)
What income do you need to buy a home in Nogal?
At the current 30-year fixed rate of 7.03%, 20% down on a $364,602 home is about $1,946 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $83,419 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $30,982.
Are home prices rising in Nogal?
The typical home value in Nogal, NM fell 5.3% over the last 12 months, from $385,099 to $364,602 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Nogal?
Nogal ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Nogal?
That depends on your timeline, not on a headline. What the data says today: Nogal, NM is a leaning buyer's, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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