Artesia, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Artesia, NM Real Estate Data


Artesia Housing Market Information

With a population of 12,036, 4,140 total housing units (homes and apartments), and a median house value of $161,759, Artesia real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Artesia, accounting for 81.97% of the city's housing units. Other types of housing that are prevalent in Artesia include mobile homes or trailers ( 7.79%), duplexes, homes converted to apartments or other small apartment buildings ( 5.27%), and a few large apartment complexes or high rise apartments ( 3.21%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Artesia. Owner-occupied housing accounts for 69.97% of Artesia's homes, and 59.49% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Artesia's housing was primarily built during this period, from the '40s through the '60s. A full 54.80% of the city's housing hails from this era. Other housing ages represented in Artesia include homes built between 1970-1999 ( 31.32%) and housing constructed between 2000 and later ( 9.58%). There's also some housing in Artesia built before 1939 ( 4.29%).

Vacant housing appears to be an issue in Artesia. Fully 17.35% of the housing stock is classified as vacant. Left unchecked, vacant Artesia homes and apartments can be a drag on the real estate market, holding Artesia real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Artesia Home Appreciation Rates

In the last 10 years, Artesia has experienced some of the highest home appreciation rates of any community in the nation. Artesia real estate appreciated 37.36% over the last ten years, which is an average annual home appreciation rate of 3.23%, putting Artesia in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Artesia definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Artesia appreciation rates have trailed the rest of the nation. In the last twelve months, Artesia's appreciation rate has been 4.10%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Artesia were at 1.69%, which equates to an annual appreciation rate of 6.93%.

Relative to New Mexico, our data show that Artesia's latest annual appreciation rate is higher than 80% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$161,759

Artesia, NM HOME PRICES

Value Range
> $1,140,000 3.1
$855,001 - $1,140,000 0.1
$570,001 - $855,000 0.7
$456,001 - $570,000 5.6
$342,001 - $456,000 1.6
$228,001 - $342,000 11.9
$114,001 - $228,000 38.9
$57,001 - $114,000 24.2
$0 - $57,000 14.0

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
46.0385313579669 25.0

Number Of Homes And Apartments:
4,140

Rent & Ownership

 

Average Market Rent:
$898 / per month

Homeownership Rate

Homeownership
Owners 69.97
Renters 30.03
Vacant 17.35

Housing Market Details

 

Age of Homes

AGE OF Artesia HOMES
2000 or Newer 9.6
1970 - 1999 31.3
1940 - 1969 54.8
1939 or Older 4.3

Types of Homes

TYPE OF Artesia HOMES
Single-Family 82.0
Townhomes 1.8
Small Apt. Buildings 5.3
Apt. Complexes 3.2
Mobile Homes 7.8
Other 0.0

Home Size

SIZE OF Artesia HOMES
No Bedroom 0.64
1 Bedroom 7.37
2 Bedrooms 30.92
3 Bedrooms 48.87
4 Bedrooms 10.62
5 or more bedrooms 1.58

Artesia Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NM*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
121.92% 4.80% 10 10
* 10 is highest

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