Melrose, NM Foreclosures
How much do homes sell for in Melrose, NM?
The average home price is currently $91,745.
In Melrose, NM, how many homes are available?
There are currently 31 active home listings available in Melrose.
What’s the average rental cost in Melrose, NM?
The average rental price in Melrose is $874.
What is the most expensive home in Melrose?
The most expensive home sold in Melrose had a price of $691,061.
What is currently the cheapest priced home in Melrose, NM?
The cheapest home for sale in Melrose is priced at $18,801.
Living in Melrose, NM
Melrose, NM is a quaint rural town known for its welcoming community and picturesque landscapes. Situated in eastern New Mexico, it offers a peaceful lifestyle with essential amenities and is close to outdoor recreational activities. Residents enjoy a strong sense of community while being just a short drive from larger urban centers.
Current Market Conditions in Melrose, NM
The real estate market in Melrose, NM is relatively stable, characterized by affordable housing options. Prices have shown a slight upward trend in recent months due to increased interest from homebuyers seeking a serene environment. The town remains attractive for families and retirees, contributing to a consistent demand for homes.
Currently, Melrose is witnessing a balanced market where homes are selling at reasonable prices. The average days on market has been decreasing as more buyers are looking for opportunities in rural areas, making now a favorable time for sellers considering listing their homes.
Home Value Estimator For Melrose, NM
There are currently 615 real estate properties
in Melrose, NM,
with a median automated valuation model (AVM) price
of $66,551.00. What is an AVM? It is
a smart computer program that analyzes and predicts the approximate value of a home,
property or land in Melrose, NM, based on current market
trends, comparable real
estate sales nearby, historical data and, of course, property features, among other
variables. These automated home estimates are often very helpful, providing buyers
and
sellers with a better idea of a home’s value ahead of the negotiation process. For
example,
the average home price in Melrose, NM,
is $91,745.00, with the most expensive house
in Melrose, NM, topping out
at $691,061.00 and the cheapest home
in Melrose, NM,
clocking in at $18,801.00. In other words, there’s
something for every potential homebuyer
or savvy investor in Melrose, NM!
Rent Prices
In Melrose, NM
With the expiration of certain local, state and federal housing-related restrictions
and
mandated programs, the rental market in Melrose, NM, is on
a rollercoaster ride. The
average rent price in Melrose, NM,
is $874.00. Indeed, when looking to rent in
Melrose, NM, you can expect to pay as little
as $570.00 or as much
as $2,090.00,
with the average rent median estimated to
be $850.00. The good news is that finding
an affordable and desirable property to rent in Melrose, NM
-- whether it’s apartments,
townhomes, condominiums or single-family homes -- is made easier with knowledge of
the
local market and, of course, a little patience.
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