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FARMINGTON, NM 87402

Real Estate Market Report
Buyer's Market
February 2026  ·  Source: Realtor.com

Market Analysis

Data as of February 2026. Source: Realtor.com.

The FARMINGTON, NM real estate market (87402) currently shows 54 active listings, with 24 pending sales. Homes are averaging 86 days on the market before going under contract.

Inventory has increased compared to last year, with 15 more homes available — giving buyers more choice.

Homes are taking longer to sell, averaging 86 days on market compared to 72 days last year.

The median listing price has fallen 9.3% year-over-year, from $463,500 to $420,225.

Whether you are buying or selling in FARMINGTON, NM, SELL123.com can help you save significantly on commission — typically 2% compared to traditional 5% broker fees. Call (240) SELL-123 for a free consultation.

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Market Context

Market Context

Population: 10,362  ·  Density: 257.7/mi²  ·  Median household income: $72,869

Typical home value: $263,028  ·  Homeownership: 76.1%

Market Overview

Active Listings
54
⇧ 38.5% vs 39 last year
Pending
24
44% pending ratio
Median Price
$420,225
⇩ 9.3% vs $463,500 last year
Average Price
$514,476
⇩ 12.2% vs $585,649 last year
Days on Market
86
⇧ 19.4% vs 72 days last year

Price Per Square Foot

Median $/sqft
$180
⇩ 14.3% vs $210/sqft last year
Median Home Size
2,306 sqft
Typical listing size
12-Month $/sqft Trend

Market Trends

Inventory & Days on Market

Year over Year
  • Listings: 54 this year vs 39 last year
  • Days on market: 86 now vs 72 last year

Median & Average Pricing

Year over Year
  • Median: $420,225 (-9.3% YoY)
  • Average: $514,476 (-12.2% YoY)

12-Month Price Trend

Median & Average
  • Median and average listing prices over the past 12 months

12-Month Inventory Trend

Active & Pending
  • Active and pending listing counts over the past 12 months

Historical Trend Charts

Median Price
Average Price
Days on Market
Total Listings
Pending Listings
Active Listings
New Listings
Price Per Sqft
Price Reduced %

Nearby Real Estate Markets

Median Price Legend:
< $250K
$250K–$500K
$500K–$1M
$1M–$2M
> $2M
25 Nearby Zip Code Markets within 67.5 miles — 576 listings ($564,771,430 combined market value)
Zip City / State Distance Listings Market Value Median $ Average $
87402Farmington, NM 874020.0 mi50$24,499,750$427,450$489,995
87401Farmington, NM 874014.2 mi95$44,191,625$359,500$465,175
87417Kirtland, NM 8741711.4 mi3$1,057,500$352,500$352,500
87416Fruitland, NM 8741621.5 mi2$240,000$120,000$120,000
81326Hesperus, CO 8132624.6 mi16$52,693,824$1,650,000$3,293,364
81303Durango, CO 8130328.3 mi35$36,694,455$957,500$1,048,413
81137Ignacio, CO 8113734.6 mi18$8,852,724$411,950$491,818
81328Mancos, CO 8132836.3 mi19$21,018,997$824,450$1,106,263
81321Cortez, CO 8132149.6 mi79$39,501,501$442,500$500,019
81301Durango, CO 8130152.8 mi223$301,357,740$849,000$1,351,380
81323Dolores, CO 8132359.6 mi31$31,219,914$739,500$1,007,094
81332Rico, CO 8133263.2 mi4$3,118,400$775,000$779,600
87029Lindrith, NM 8702967.5 mi1$325,000$325,000$325,000

Frequently Asked Questions

How many homes are for sale in FARMINGTON, NM 87402?

As of February 2026, there are 54 active listings in FARMINGTON, NM (zip code 87402), compared to 39 the prior year.

What is the median home price in FARMINGTON, NM 87402?

The median listing price in FARMINGTON, NM 87402 is $420,225 as of February 2026, a 9.3% decrease from $463,500 the prior year.

How long do homes stay on the market in FARMINGTON, NM?

Homes in FARMINGTON, NM 87402 spend an average of 86 days on the market before going under contract, compared to 72 days the prior year.

Is it a seller's or buyer's market in FARMINGTON, NM 87402?

Based on current inventory and days-on-market data as of February 2026, FARMINGTON, NM 87402 is currently a Buyer's Market. Inventory has increased compared to last year, with 15 more homes available — giving buyers more choice. Homes are taking longer to sell, averaging 86 days on market compared to 72 days last year.

How much can I save on real estate commission in FARMINGTON, NM?

With SELL123.com's maximum 3% commission, sellers in FARMINGTON, NM 87402 save an estimated $8,405 compared to a typical 5% commission on the median listing price of $420,225. Our fee structure: 1% listing + 2% selling broker — no additional buyer or seller fees. Call (240) SELL-123 or email info@SELL123.com for a free consultation.