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Featured local agent — Picacho Hills, NM
Sarah Mitchell
Compass Real Estate · Picacho Hills, NM
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Picacho Hills, NM Housing Market
The last median sale price Redfin published was $470,000, -3.1% year over year (through May 2026). With 9.6 months of supply and homes going under contract in about 139 days, Picacho Hills is a buyer's market. At today's 7.03% 30-year fixed rate, 20% down on a $470,000 home is about $2,509/mo in principal and interest.
Key numbers for Picacho Hills, NM
Median sale price
$470,000
-3.1% year over year
Redfin, through May 2026
Days on market
139
Slow-moving
Redfin, through May 2026
Active listings
48
9.6 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$124,250
Home costs 3.8x income
U.S. Census ACS, 2023
Zillow figures 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 Picacho Hills a buyer's or seller's market?
Picacho Hills, NM is a buyer's market, based on 9.6 months of supply and homes selling in about 139 days. Above 7 months of supply is a glut: inventory is well ahead of the sales pace, and buyers can take time to inspect, compare, and negotiate concessions.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Picacho Hills housing market data show?
Every row below is Redfin's final published month for Picacho Hills, NM. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $470,000 |
| Median list price | $448,000 |
| Year-over-year price change | -3.1% |
| Median price per sq ft | $195/sq ft |
| Median days on market | 139 days |
| Active inventory | 48 listings |
| Months of supply | 9.6 months |
| Homes sold (that month) | 5 |
| New listings (that month) | 15 |
| Listings with a price cut | 29.2% |
| Market condition | Buyer's market |
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 Picacho Hills is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Picacho Hills 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 Picacho Hills home prices moved?
Over the last three years the median sale price in Picacho Hills, NM fell 8.7%, from $515,000 to $470,000. 29.2% of Picacho Hills listings cut their asking price in the final Redfin month — a high share, and the clearest sign that list prices were running ahead of what buyers would pay.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Picacho Hills?
Priced off the median sale price of $470,000 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% | $94,000 | $376,000 | $2,509/mo |
| 5% | $23,500 | $446,500 | $2,980/mo |
Redfin, through May 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 $2,509, that implies roughly $107,534 a year before you add taxes and insurance. The median household in Picacho Hills earns $124,250, about $16,716 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 3.8x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Picacho Hills in the next 12 months?
Tell us your timeline. We send the Picacho Hills 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 Picacho Hills?
Zillow does not publish a rent index (ZORI) for Picacho Hills, 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 Picacho Hills?
Active listings in Picacho Hills, NM went from 37 in May 2025 to 48 in May 2026, a +29.7% change. Rising inventory is the single most useful leading indicator for buyers: more choice, longer marketing times, and more sellers willing to negotiate before price cuts show up in the median.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 30 | 4 |
| July 2025 | 33 | 8 |
| August 2025 | 30 | 7 |
| September 2025 | 36 | 11 |
| October 2025 | 37 | 12 |
| November 2025 | 36 | 6 |
| December 2025 | 35 | 4 |
| January 2026 | 31 | 5 |
| February 2026 | 33 | 8 |
| March 2026 | 35 | 8 |
| April 2026 | 43 | 16 |
| May 2026 | 48 | 15 |
Redfin, through May 2026
How does Picacho Hills compare to New Mexico and the U.S.?
Picacho Hills homes sell for $470,000 — 19% above the New Mexico median of $395,500. Against the national median of $410,700, Picacho Hills runs 14% higher. Year-over-year, Picacho Hills moved -3.1% against New Mexico's +10.8% — a smaller swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Picacho Hills, NM | $470,000 | -3.1% | 139 days |
| New Mexico statewide | $395,500 | +10.8% | 53 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Picacho Hills
What buyers should watch
- Months of supply, currently 9.6. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 29.2%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $470 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 $470,000 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 Picacho Hills listing goes under contract in 139 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- In the last published month Picacho Hills added 15 new listings against 5 sales — more competition arriving than clearing, so early timing matters.
- Comparable ZIP-level pricing inside Picacho Hills varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Picacho Hills
There are currently 48 homes listed for sale in Picacho Hills, New Mexico. The median listing price is $448K.
Active listings
48
Homes on market
Median list price
$448K
Avg. days on market
139
Days until sale
New this week
15
Newly listed
How much do homes cost in Picacho Hills by property type?
How the Picacho Hills, NM market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $470,000 | $195/sq ft | 5 | 139 days |
| Condo / co-op | $305,000 | $191/sq ft | 1 | 12 days |
Who lives in Picacho Hills?
American Community Survey estimates for Picacho Hills. U.S. Census ACS, 2023
Population
1,995
Households
846
Median income
$124,250/yr
Median age
67.2 years
Owner-occupied
96.9%
Median home value
$438,600
Mean commute
28.4 min
96.9% of occupied homes in Picacho Hills 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.
Which cities are near Picacho Hills, NM?
Ordered by distance from Picacho Hills, not by size. Compare Picacho Hills side by side with any of them.
Picacho Hills housing market FAQ
Is Picacho Hills a buyer's or seller's market?
Picacho Hills, NM is currently a buyer's market. That read comes from 9.6 months of supply, homes going under contract in about 139 days in the last month Redfin published (May 2026).
How much do homes cost in Picacho Hills?
The median sale price in the last month Redfin published was $470,000, about $195 per square foot.
Is Picacho Hills cheaper than the rest of New Mexico?
Picacho Hills's median sale price of $470,000 is 19% higher than the New Mexico statewide median of $395,500, and 14% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Picacho Hills?
Homes in Picacho Hills, NM spent a median of 139 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 Picacho Hills?
At the current 30-year fixed rate of 7.03%, 20% down on a $470,000 home is about $2,509 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $107,534 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $124,250.
Are home prices rising in Picacho Hills?
Redfin's last published year-over-year change for Picacho Hills, NM was -3.1%, measured through May 2026. That series is frozen; treat it as a historical reading rather than a current trend.
What are the cheapest ZIP codes in Picacho Hills?
Picacho Hills 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 Picacho Hills?
That depends on your timeline, not on a headline. What the data says today: Picacho Hills, NM is a buyer's market with 9.6 months of supply, the 30-year fixed rate is 7.03%. Properties Incorporated publishes the data; it does not give financial advice.
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