How is Otero County's real estate market? Home prices fell over year

The median sales price for a single-family home in Otero County during July was $200,006. That's a decrease of 11.1% compared with July 2020, according to data from Realtor.com.

The number of houses sold rose by 2.5% from a year earlier. A total of 82 houses were sold county-wide during the month of July. During the same period a year earlier, 80 single-family homes were sold.

Real estate sales can take weeks or months to be recorded and collected. This is the latest data made available through Realtor.com to the USA TODAY Network.

Condominiums and town homes sold in July had a median sales price of $120,937. That figure represents a 37.6% decrease year-over-year. In Otero County, three were sold, up 200% from a year earlier.

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How hot is Otero County's real estate market in New Mexico?

Information on your local housing markets is available through the USA TODAY Network, with more data from Realtor.com.

The top 10% of the properties sold had prices of at least $319,480, down 18.4% from a year before.

In July, no properties sold for $1 million or more.

The median home sale price — the midway point of all the houses or units sold over a period of time — is used in this report instead of the average home sale price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes sold are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

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The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. The story was written by Sean Lahman.