Home New mexico real estate Areas with fastest growing home prices in Metro Farmington

Areas with fastest growing home prices in Metro Farmington

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(STACKER) – It goes without saying that the coronavirus pandemic has unleashed a wave of uncertainty across a myriad of industries, and no other market has felt its impact quite like real estate.

The pandemic has become a driving force behind the continued housing boom, with strong demand for vacation homes and a limited supply of homes prompting buyers and investors to drive up prices for affordable properties, sending prices skyrocketing houses. The ability to work remotely played a role in driving demand for vacation homes in mid-2020 as affluent Americans chose to ride out the pandemic with more amenities and space outside of dense urban areas.

Stacker compiled a list of towns with the fastest growing home prices in Farmington using data from Zillow. Cities are ranked by 1-year price change in April 2022. The charts in this story were created automatically using Matplotlib. The typical value of a home in the United States has increased over the past year by +20.9% to $334,141.

#9. Blanco, New Mexico

– Price variation over 1 year: +$2,485 (+1.6%)
– Price change over 5 years: +$38,537 (+32.1%)
– Typical home value: $158,679 (9th most expensive metro city)

#8. Bloomfield, New Mexico

– Price change over 1 year: +$26,244 (+17.4%)
– Price change over 5 years: +$66,335 (+59.8%)
– Typical home value: $177,324 (7th most expensive metro city)

#seven. Water flow, NM

– Price variation over 1 year: +$28,494 (+16.6%)
– Price change over 5 years: +$68,308 (+51.7%)
– Typical home value: $200,513 (6th most expensive metro city)

#6. Kirtland, New Mexico

– Price change over 1 year: +$31,565 (+21.9%)
– Price variation over 5 years: +$72,519 (+70.1%)
– Typical home value: $175,969 (8th most expensive metro city)

#5. Farmington, New Mexico

– Price change over 1 year: +$34,386 (+20.0%)
– Price change over 5 years: +$68,481 (+49.7%)
– Typical home value: $206,248 (fourth most expensive metro city)

#4. Fruitland, New Mexico

– Price change over 1 year: +$40,044 (+23.9%)
– Price change over 5 years: +$79,154 (+61.8%)
– Typical home value: $207,270 (3rd most expensive metro city)

#3. Aztec, New Mexico

– Price change over 1 year: +$41,284 (+25.4%)
– Price change over 5 years: +$72,508 (+55.3%)
– Typical home value: $203,559 (5th most expensive metro city)

#2. Flora Vista, New Mexico

– Price change over 1 year: +$44,222 (+25.0%)
– Price variation over 5 years: +$94,825 (+75.3%)
– Typical home value: $220,778 (2nd most expensive metro city)

#1. La Plata, New Mexico

– Price change over 1 year: +$56,401 (+30.8%)
– Price change over 5 years: +$99,759 (+71.3%)
– Typical home value: $239,653 (#1 in most expensive metro city)