Melrose, NM Foreclosures
How much do homes sell for in Melrose, NM?
The average home price is currently $107,074.
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 $688,279.
What is currently the cheapest priced home in Melrose, NM?
The cheapest home for sale in Melrose is priced at $21,907.
Living in Melrose, NM
Melrose, NM is a quaint small town with a strong community spirit and a tranquil environment. Located in eastern New Mexico, it offers access to beautiful outdoor activities, local schools, and essential amenities. Perfect for families, retirees, and anyone seeking a peaceful lifestyle away from city hustle.
Current Market Conditions in Melrose, NM
The real estate market in Melrose, NM has shown stability with a slight uptick in home prices over the past year. The demand for homes in this area is driven by its affordability and the charm of rural living. Homes have generally appreciated in value, attracting both first-time buyers and investors looking for rental properties.
Increasing interest in the area has led to a competitive market, with properties receiving multiple offers. As Melrose experiences gradual growth, its real estate market shows promise with diverse options ranging from small family homes to larger plots of land.
Investors and prospective homeowners are seeing Melrose as a great opportunity, particularly as more people search for quieter living spaces in the wake of the pandemic.
Home Value Estimator For Melrose, NM
There are currently 560 real estate properties
in Melrose, NM,
with a median automated valuation model (AVM) price
of $76,646.00. 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 $107,074.00, with the most expensive house
in Melrose, NM, topping out
at $688,279.00 and the cheapest home
in Melrose, NM,
clocking in at $21,907.00. 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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