San Juan County Real Estate Boom: Key Trends and Opportunities | Q1 2024

Dated: May 22 2024

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Hi there! At EXIT Realty Home & Ranch in Farmington, NM, we're here to make your real estate journey as smooth and rewarding as possible. We’re excited to share the latest insights into the real estate trends shaping San Juan County. 

Market Highlights in San Juan County

1. Rising Home Prices: The median listing home price in San Juan County has risen to $338,300 as of April 2024, marking a notable 12.8% increase year-over-year. The price per square foot is now at $187, reflecting the growing demand and value in the area‚Äč.

2. Strong Sales Performance: In April 2024, 72 residential units were sold at an average sold price of $329,561, with a median sold price of $265,250. This is a significant increase from March 2024, which saw 71 units sold at an average price of $292,771. The median sold price has remained steady at $265,000 during this period.

3. Quick Turnaround: Homes in San Juan County are selling relatively fast, with the average days on the market dropping to 55 days in April 2024 from 69 days in February 2024. This indicates a high demand and a competitive market where properties are quickly snapped up by buyers.

4. Inventory and New Listings: The market remains vibrant with 142 active listings and 76 new listings in April 2024. Although the number of active listings has slightly decreased from the previous months, the market continues to offer a diverse range of properties for potential buyers.

Opportunities for Buyers and Sellers

For Buyers: The current market trends suggest that now is a great time to explore homeownership in San Juan County. The increasing home values indicate a promising investment opportunity, and with a variety of Farmington homes for sale, you’re sure to find something that fits your needs.

For Sellers: Given the quick sales turnaround and rising home prices, sellers are in a favorable position to maximize their returns. The steady demand and competitive market mean that properties are likely to attract multiple offers, ensuring a beneficial sale process.

Neighborhood Spotlight, Farmington:

Farmington remains a central hub within San Juan County, offering a blend of affordable homes and high-end properties. For example, recent listings include a charming 3-bedroom home priced at $226,900 and a stunning 4-bedroom estate at $747,000, showcasing the wide range of available options. Farmington's real estate market is characterized by its diversity and accessibility, making it an attractive destination for a wide variety of buyers. Whether you’re looking for a cozy starter home, a luxury residence, or even farm and ranch properties, Farmington has it all.

Moreover, Farmington's strategic location provides residents with the perfect balance of suburban tranquility and urban amenities. With excellent schools, vibrant community events, and proximity to outdoor recreational activities such as hiking, fishing, and golfing, Farmington is an ideal place to call home. The city’s growing infrastructure, combined with its rich cultural heritage and friendly community, further enhances its appeal as a prime real estate destination in New Mexico.

Why Choose EXIT Realty Home & Ranch?

At EXIT Realty Home & Ranch, we pride ourselves on our deep local knowledge and commitment to client satisfaction. Whether you're looking to buy, sell, or invest in Farmington New Mexico real estate, our team of trusted agents is here to guide you through every step of the process. We offer personalized advice, expert market insights, and dedicated support to help you achieve your real estate goals.

We proudly serve all of Southwest Colorado and Northern New Mexico with offices located in Durango, CO, Pagosa Springs, CO, and Farmington, NM. Our team is dedicated to helping you find the perfect property, whether you’re looking in Colorado or New Mexico!

Connect with Us

Ready to take the next step in your real estate journey? Contact us at our Farmington office to discuss your needs, explore available properties, or get expert advice on the local market. Let’s make your dreams of living in San Jan County a reality! (505) 336-2347


Stats provided by Realtor.com, Redfin, Zillow, & San Juan County Board of REALTORS. 

Blog author image

Jessica Low

My name is Jessica Low and I’m an owner of EXIT Realty Home & Ranch. We have offices in Durango and Pagosa Springs, CO as well as in Farmington, NM. I am also the Managing Broker for our Col....

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