Most recent median home sales in Lincoln County up at $247,500

Newly released data for July shows that potential buyers and sellers in Lincoln County saw houses sell for higher than the previous month's median sale price of $214,000.

The median home sold for $247,500, an analysis of data from Realtor.com shows. That means July, the most recent month for which figures are available, was up 15.7% from June.

Compared to July 2022, the median home sale price was up 0.3% at $247,500 compared to $306,250.

Realtor.com sources sales data from real estate deeds, resulting in a few months' delay in up-to-date data. The statistics don't include homes currently listed for sale, and aren't directly comparable to listings data.

Information on your local housing market, along with other useful community data, is available at data.ruidosonews.com.

Looking only at single-family homes, the $298,125 median selling price in Lincoln County was up 3.7% in July from $287,500 the month prior. Since July 2022, the sale price of single-family homes was up 0.4% from a median of $381,375.

No condominiums or townhomes sold for at least $1 million or more during the month.

Condominiums and townhomes decreased by 10% in sales price this July to a median of $179,531 from $199,406 in June. Compared to July 2022, the sale price of condominiums and townhomes was slightly up from $187,500. No condominiums or townhomes sold for at least $1 million or more this July.

In July, the number of recorded sales in Lincoln County dropped by 0.5% since July 2022 from 30 to 11. All residential home sales totaled to $1.3 million.

In New Mexico, homes sold at a median of $297,511 this July, up 5.4% from $282,367 in June. There were 2,262 recorded sales across the state this July, down 0.2% from 2,851 recorded sales in July 2022.

The total value of recorded residential home sales in New Mexico decreased by 25.7% from $469.8 million in June to $349.1 million this July.

Out of all residential home sales in New Mexico, 0% of homes sold for at least $1 million in July, down from 0.02% in July 2022.

Sale prices of single-family homes across New Mexico increased by 7.5% from a median of $286,051 in June to $307,428 in July. Since July 2022, the sale price of single-family homes across the state was slightly up from $295,264.

Across the state, the sale price of condominiums and townhomes dropped 7.9% from a median of $265,000 in June to $244,125 this July. The median sale price of condominiums and townhomes is down 0.1% from the median of $275,000 in July 2022.

The median home sale price used in this report represents the midway point of all the houses or units listed over the given period of time. The median offers a more accurate view of what's happening in a market than the average sale price, which would mean taking the sum of all sale prices then dividing by the number of homes sold. The average can be skewed by one particularly low or high sale.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from Realtor.com. Please leave any feedback or corrections for this story here. This story was written by Ozge Terzioglu.

This article originally appeared on Ruidoso News: Most recent median home sales in Lincoln County up at $247,500