88005
$277,000median sale price
The 88005 zip code, located in Arroyo Seco, NM, is currently classified as a seller's market. The median sale price stands at $277,000, representing a -3.5% change year over year. Homes in this area spend an average of 42 days on the market before going under contract. There are currently 74 active listings in the area, which influences how much negotiating power buyers and sellers have.
Understanding zip-code-level data is essential for making informed real estate decisions. City-wide averages can mask significant variation between neighborhoods, and the 88005 market may perform differently from surrounding areas depending on local school quality, proximity to employment centers, and housing stock characteristics. The metrics below are sourced from Redfin transaction data, Zillow home value estimates, and U.S. Census Bureau demographic statistics.
Homes sold
50
Last 12 weeks
Days on market
42
Average pace
Active listings
74
Sale-to-list
148.1%
Above asking
Market trends
Market analysis for 88005
The 88005 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 148.1% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 88005 have declined -3.5% compared to last year, which may present opportunities for buyers looking to enter the market at a lower price point. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 88005 stands at $271,113, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $1,050 per month. This gives a price-to-rent ratio of approximately 21.5, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Community profile
Population
27,279
Median income
$45,256/yr
Median age
34.2 years
Owner-occupied
5440.0%
College grads
2960.0%
Avg commute
19.9 min
Living in 88005
Zip code 88005 is home to approximately 27,279 residents. The median household income is $45,256 per year, which shapes the types of homes and amenities available in the area. With a median age of 34.2 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 5440.0% of housing units are owner-occupied, indicating a stable, ownership-oriented community where residents have a vested interest in maintaining property values and neighborhood quality.
About 2960.0% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 19.9 minutes, which is shorter than the national average and suggests good proximity to employment centers. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 88005.
Frequently asked questions about 88005
What is the median home price in 88005?
The current median sale price in 88005 is $277,000, based on recent Redfin transaction data. Prices have changed -3.5% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 88005 a buyer's or seller's market?
The 88005 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population and demographics of 88005?
Zip code 88005 has a population of approximately 27,279 residents. The median household income is $45,256 per year. About 5440.0% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 88005?
Properties Incorporated provides comprehensive data for 88005 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 88005 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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