San Juan County home prices fell 3.5% in March, with houses for sale in high demand

FARMINGTON —  A typical San Juan County home listed for $263,000 in March, down 3.5% from a month earlier, an analysis of data from Realtor.com shows.

The median list home price in March was up about 20.9% from March 2021 San Juan County's median home was 1,878 square feet for a listed price of $148 per square foot

The San Juan County market was busy, with a median 42 days on market. The market added 100 new home listings in March, compared with the 84 added in March 2021. The market ended the month with some 118 listings of homes for sale.

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

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Across all of New Mexico, median home prices were $325,000, rising 0.4% from a month earlier. The median New Mexico home for sale had 1,969 square feet at list price of $165 per square foot.

Across the United States, median home prices were $404,950, up 3.2% from a month earlier. The median American home for sale had 1,800 square feet, listed at $214 per square foot.

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The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list 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 listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

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