How much does it cost to sell a home in New Mexico?

If you are like many residents of New Mexico, your home is probably your most important financial asset. Choosing to sell it was a big decision. Whether you move out of state, to suburbs, or just seek to reduce the size, you may aim to achieve seamless, direct sales while maximizing revenue.

Following your plan, understanding the potential costs associated with selling a New Mexico home is key to avoiding surprises at the closing ceremony. This short post outlines what you can expect and provides expert insights into the costs involved in selling a home in New Mexico.

Housing Trends in New Mexico

Similar to many regions across the country, New Mexico’s housing market faces high interest rates and rising housing prices.

“Our housing market is still very stable, due to several key factors. Prices continue to rise, and large homes are selling quickly, especially when they price the market correctly,” said Valerie Almanzar, the highest real estate agent in New Mexico, 65% higher with average agents in her area.

Here is a snapshot of current real estate conditions in New Mexico:

	As of April 2025
Days on the market	60 days
Median house sales price	$352,250
Price and Sales Price	93.3%
Inventory Supply	4 months
Year of population growth	0.43%

Source: New Mexico Real Estate Agents Association, Redfin, World Population Review

As a seller in New Mexico, an important indicator to consider is the day on the market (DOM), which indicates the average time from listing the home to obtaining a signed purchase agreement. In New Mexico, the normal DOM is currently 60 days.

Start with the house value estimation

The key first step in determining the cost of a home for sale in New Mexico is to obtain an accurate estimate of the home value. Given the constant fluctuation in home values ​​and market trends, it is a good idea to know the value of your property. You may be surprised by its value.

You can request a quick online value estimation using Homelight’s Home Value Estimator. This free automated valuation model (AVM) tool analyzes recent sales, local market trends, and the latest selling prices for your home to provide a stadium value range in less than two minutes. Just enter your address to start.

How much does it cost to sell a home in New Mexico?

The answers are different. According to our findings, the cost of selling a home in New Mexico usually ranges from 6% to 10% of your final selling price.

For example, if you sell a home for $352,250 (median house price in New Mexico), your sales could be around $21,135 to $35,225.

Whether you can expect payments at the lower or higher end of the spectrum depends heavily on your choice in home preparation, agency committees and any offer offered to the buyer. Let’s explore factors that should be considered when calculating the cost of selling a home in New Mexico.

What is the common spending of sellers in New Mexico?

Several factors may affect the cost of preparing a home for sale, including its size, age and current status. Almanzar notes that the cost of selling homes in New Mexico may vary widely based on the state’s changing market.

“When someone starts thinking about the cost of selling, it’s important to look at the big picture, and this is the moment they decide to sell.” “Houses need to be prepared for the market. It’s not just a matter of selling it and completing it. There’s always some upfront expenses when preparing a home, like solving small issues that the seller may have lived in for years, such as leaking sinks or cracked cabinets.”

Here are some estimated prices that can guide you based on your plan.

Prepare for sale of the house

Preparing a home for sale in New Mexico usually costs between 1.5% and 2.7% of the home’s final sale price. This could be between $5,284 and $9,511, based on the median price of homes in the state.

Here is a breakdown of these fees:

Always consult your real estate agent before working on a major project, such as kitchen remodeling or roof replacement. An experienced New Mexico real estate agent can take a look at the needs to be addressed and what repair suggestions can be skipped when preparing a home.

Real estate agent fees in New Mexico

Agent committees are one of the most important costs in real estate transactions. In New Mexico, real estate agents’ fees range from 2.5% to 6%, depending on whether you choose to pay the buyer’s agency committee fees, which is no longer given due to a landmark court solution, which changes the commission rules nationwide.

Based on the median $352,250 house price in New Mexico, you can expect to pay $8,806 (2.5%) and $21,135 (6%) in real estate agent commissions.

While the agency board may seem high, working with skilled professionals can help you achieve higher net gains. Homelight transaction data shows that the top 5% of homes sold in the U.S. are 10% more than the average agent.

Later in this article, we will explain how the Agency Committee can affect your total cost of sales in our overview sample chart.