87701 — San Miguel County, New Mexico Market Snapshot
Housing market data for zip code 87701 in San Miguel County, New Mexico. Updated monthly with median prices, days on market, and more.
Market Sales Data
21 sales in 2026 (year to date)
Median Sale Price
$195,000
Days to Sell
27
Homes Sold
21
Inventory
30
Sale-to-List
97.4%
New Listings
31
Price/SqFt
$124
Pending Sales
23
Conforming Loan Available
Most homebuyers in 87701 can comfortably use conventional financing. The median home price of $195,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Market Insights
Market Temperature
Homes in 87701 are moving quickly at 27 days on market, indicating healthy buyer demand. Well-priced homes are likely seeing multiple offers.
Sale-to-List Ratio
The average home in 87701 sells for 2.6% below asking price (97.4% sale-to-list), suggesting buyers have negotiating leverage in the current market.
Conforming Loan Feasibility
Most homebuyers in 87701 can comfortably use conventional financing. The median home price of $195,000 is well below the 2026 conforming loan limit of $832,750, meaning buyers can put as little as 3-5% down without hitting jumbo loan territory.
Loan limits in 87701 are set at the county level.
2026 Loan Limits — San Miguel County
| Property Units | Conforming Limit | FHA Limit |
|---|---|---|
| 1 Unit | $832,750 | $541,287 |
| 2 Units | $1,066,250 | $693,050 |
| 3 Units | $1,288,800 | $837,700 |
| 4 Units | $1,601,750 | $1,041,125 |
Affordability Snapshot — Zip 87701
To purchase the median home at $195,000 with 5% down at today's rate of 6.75%, the estimated monthly payment is approximately $1,644.
Monthly Payment
$1,644
Income Required
$70,458
Principal & Interest
$1,202/mo
Down Payment (5%)
$9,750
Based on 30-year fixed at 6.75%, 1.8% property tax, $1,800/yr insurance, 28% DTI guideline.
Mortgage Calculator
Estimate your monthly payment for a home in 87701.
Estimated Monthly Payment
$1,357
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