Cities with the fastest growing home prices in Santa Fe metro area

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September 29, 2022
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Cities with the fastest growing home prices in Santa Fe metro area

It goes without saying that the coronavirus pandemic has sparked a wave of uncertainty across myriad industries, and not other market has quite felt its impact like that of real estate.

The pandemic has become a driving force behind the continued real estate boom, with high demand for vacation homes and a limited supply of housing that has prompted buyers and investors to bid up prices for affordable properties, causing home prices to skyrocket. The ability to work remotely played a role in the vacation home demand in mid-2020, as affluent Americans opted to ride out the pandemic with more amenities and space outside dense urban areas.

Stacker compiled a list of cities with the fastest-growing home prices in Santa Fe, NM metro area using data from Zillow. Cities are ranked by 1-year price change as of August 2022. The typical home value in the United States increased over the last year by +14.1% to $356,054. All 7 cities and towns with data available were included in the list.

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Stacker

#7. Cerrillos, New Mexico

- 1-year price change: +$20,112 (+5.7%)
- 5-year price change: +$138,697 (+58.7%)
- Typical home value: $375,167 (#5 most expensive city in metro)
2 / 7
Stacker

#6. Stanley, New Mexico

- 1-year price change: +$40,249 (+11.5%)
- 5-year price change: +$152,479 (+63.7%)
- Typical home value: $391,744 (#4 most expensive city in metro)
3 / 7
Stacker

#5. Edgewood, New Mexico

- 1-year price change: +$40,997 (+13.0%)
- 5-year price change: +$140,300 (+65.1%)
- Typical home value: $355,826 (#6 most expensive city in metro)
4 / 7
Stacker

#4. Santa Cruz, New Mexico

- 1-year price change: +$53,427 (+21.9%)
- 5-year price change: +$98,350 (+49.4%)
- Typical home value: $297,350 (#7 most expensive city in metro)
5 / 7
Stacker

#3. Glorieta, New Mexico

- 1-year price change: +$64,272 (+17.1%)
- 5-year price change: +$192,184 (+77.7%)
- Typical home value: $439,604 (#3 most expensive city in metro)

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6 / 7
Stacker

#2. Santa Fe, New Mexico

- 1-year price change: +$92,450 (+19.0%)
- 5-year price change: +$225,606 (+63.6%)
- Typical home value: $580,234 (#2 most expensive city in metro)
7 / 7
Stacker

#1. Lamy, New Mexico

- 1-year price change: +$160,072 (+23.5%)
- 5-year price change: +$340,199 (+67.8%)
- Typical home value: $842,250 (#1 most expensive city in metro)

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