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Featured local agent — Red River, NM
Sarah Mitchell
Compass Real Estate · Red River, NM
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Red River, NM Housing Market
The typical home in Red River, NM is worth $418,300, held roughly flat 0.1% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $293,000, +13.1% year over year (through May 2026). With 5.3 months of supply and homes going under contract in about 68 days, Red River is a buyer's market. At today's 7.03% 30-year fixed rate, 20% down on a $418,300 home is about $2,233/mo in principal and interest.
Key numbers for Red River, NM
Typical home value
$418,300
+0.1% in 12 months
Zillow, August 2026
Median sale price
$293,000
+13.1% year over year
Redfin, through May 2026
Days on market
68
Slow-moving
Redfin, through May 2026
Active listings
16
5.3 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
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 Red River a buyer's or seller's market?
Red River, NM is a buyer's market, based on 5.3 months of supply and homes selling in about 68 days. Above 5 months of supply, homes start accumulating faster than they clear, which is where buyers gain leverage on price, repairs, and closing costs.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Red River housing market data show?
Every row below is Redfin's final published month for Red River, NM. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $293,000 |
| Median list price | $539,000 |
| Year-over-year price change | +13.1% |
| Median price per sq ft | $262/sq ft |
| Median days on market | 68 days |
| Active inventory | 16 listings |
| Months of supply | 5.3 months |
| Homes sold (that month) | 3 |
| New listings (that month) | 6 |
| Listings with a price cut | 6.3% |
| 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 Red River is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Red River 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 Red River home prices moved?
Over the last three years the median sale price in Red River, NM fell 32.8%, from $436,000 to $293,000. The live Zillow value series has held roughly flat 0.1% in the last 12 months, which is the more current read now that Redfin's series has stopped. 6.3% of Red River listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear.
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 Red River?
Priced off the typical home value of $418,300 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% | $83,660 | $334,640 | $2,233/mo |
| 5% | $20,915 | $397,385 | $2,652/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 $2,233, that implies roughly $95,705 a year before you add taxes and insurance. We do not hold a Census income figure for Red River, so we cannot compare that threshold to local earnings.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Red River in the next 12 months?
Tell us your timeline. We send the Red River 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 Red River?
Zillow does not publish a rent index (ZORI) for Red River, 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 Red River?
Active listings in Red River, NM went from 16 in May 2025 to 16 in May 2026, a +0.0% change. Inventory has been roughly flat, which usually keeps prices moving with rates rather than with local supply.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 25 | 14 |
| July 2025 | 19 | 3 |
| August 2025 | 17 | 3 |
| September 2025 | 14 | 2 |
| October 2025 | 16 | 2 |
| November 2025 | 15 | 1 |
| December 2025 | 13 | 1 |
| January 2026 | 15 | 2 |
| February 2026 | 15 | 2 |
| March 2026 | 15 | 3 |
| April 2026 | 17 | 3 |
| May 2026 | 16 | 6 |
Redfin, through May 2026
How does Red River compare to New Mexico and the U.S.?
Red River homes sell for $293,000 — 26% below the New Mexico median of $395,500. Against the national median of $410,700, Red River runs 29% lower. Year-over-year, Red River moved +13.1% against New Mexico's +10.8% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Red River, NM | $293,000 | +13.1% | 68 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 Red River
What buyers should watch
- Months of supply, currently 5.3. 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 6.3%. 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 $419 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 $418,300 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 Red River listing goes under contract in 68 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 Red River added 6 new listings against 3 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +0.1% 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 Red River varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Red River
There are currently 16 homes listed for sale in Red River, New Mexico. The median listing price is $539K.
Active listings
16
Homes on market
Median list price
$539K
Avg. days on market
68
Days until sale
New this week
6
Newly listed
How much do homes cost in Red River by property type?
How the Red River, 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 |
|---|---|---|---|---|
| Condo / co-op | $286,500 | $247/sq ft | 2 | 72 days |
| Townhouse | $399,000 | $367/sq ft | 1 | 32 days |
Who lives in Red River?
American Community Survey estimates for Red River. U.S. Census ACS, 2023
Population
456
Households
312
Median age
44 years
Owner-occupied
34.3%
Median home value
$432,400
Median gross rent
$935/mo
Mean commute
3.9 min
34.3% of occupied homes in Red River 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 $432,400 against Zillow's $418,300 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions.
Which public schools serve Red River?
1 schools tracked · 87 students
The largest public schools serving Red River, 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.
RED RIVER VALLEY CHARTER SCHOOL
Grades PK-8 · 87 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 Red River, NM?
Ordered by distance from Red River, not by size. Compare Red River side by side with any of them.
Red River housing market FAQ
Is Red River a buyer's or seller's market?
Red River, NM is currently a buyer's market. That read comes from 5.3 months of supply, homes going under contract in about 68 days in the last month Redfin published (May 2026).
How much do homes cost in Red River?
The typical home in Red River, NM is worth $418,300 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $293,000, about $262 per square foot.
Is Red River cheaper than the rest of New Mexico?
Red River's median sale price of $293,000 is 26% lower than the New Mexico statewide median of $395,500, and 29% below the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Red River?
Homes in Red River, NM spent a median of 68 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 Red River?
At the current 30-year fixed rate of 7.03%, 20% down on a $418,300 home is about $2,233 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $95,705 a year before taxes, insurance, HOA dues or mortgage insurance.
Are home prices rising in Red River?
The typical home value in Red River, NM held roughly flat 0.1% over the last 12 months, from $418,054 to $418,300 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Red River?
Red River 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 Red River?
That depends on your timeline, not on a headline. What the data says today: Red River, NM is a buyer's market with 5.3 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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One email: what homes are actually clearing at around $418,300, how long they sit, which ZIPs run cheaper, and what to fix on your credit before you apply.