Is it a buyer's or a seller's market? Six dials, updated monthly — speed, supply and seller behaviour, not just prices.
Sellers are cutting prices on about 1 in 7 Espa±ola listings — the market is roughly in balance.
Zillow's own model expects Espa±ola home values to change +1.2% over the year to Sep 2027. A forecast, not a promise — it is revised every month, and Zillow publishes it with that caveat.
to buy the typical home at today's mortgage rate — +$891 (+105%) since Jan 2020.
- 1 year
- Up $7,539 +2%
- $323,670$331,209 since Sep 2025
- 5 years
- Up $37,962 +13%
- $293,247$331,209 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Espa±ola$1,738
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 28 years.
Typical home values in Espa±ola, NM rose 2.3% over the past year — faster than the nation's +1.2%.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Espa±ola15.07%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Espa±ola158
New listings per month
Sellers arriving at the market.
- Espa±ola24