Magdalena, NM
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Magdalena, NM Real Estate Data


Magdalena Housing Market Information

With 911 people, 218 houses or apartments, and a median cost of homes of $146,473, Magdalena 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 Magdalena, accounting for 75.99% of the village's housing units. Other types of housing that are prevalent in Magdalena include mobile homes or trailers ( 21.23%), duplexes, homes converted to apartments or other small apartment buildings ( 2.78%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Magdalena. Owner-occupied housing accounts for 84.86% of Magdalena's homes, and 57.54% have either three or four bedrooms, which is average sized relative to America.

The housing in Magdalena was primarily built before 1939 ( 46.03%), making the housing stock in Magdalena some of the oldest overall in America, although there is a range of ages of homes in Magdalena. The next most important housing age is between 1970-1999 ( 35.71%), followed by between 1940-1969 ( 15.87%). There's also some housing in Magdalena built between 2000 and later ( 2.38%).

A decent proportion of the Magdalena housing stock is seasonally occupied. That is, homes and condos in Magdalena are occupied by people for a portion of the year - mainly for vacation purposes - and then locked up and left unoccupied for the remainder of the year as owners return to their primary residences. This characteristic of the Magdalena housing market speaks to its popularity as a vacation location of choice.

Magdalena Home Appreciation Rates

In the last 10 years, Magdalena has experienced some of the highest home appreciation rates of any community in the nation. Magdalena real estate appreciated 18.64% over the last ten years, which is an average annual home appreciation rate of 1.72%, putting Magdalena in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Magdalena 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, Magdalena appreciation rates have trailed the rest of the nation. In the last twelve months, Magdalena's appreciation rate has been 2.96%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Magdalena were at 1.69%, which equates to an annual appreciation rate of 6.93%.

Relative to New Mexico, our data show that Magdalena's latest annual appreciation rate is lower than 60% of the other cities and towns in New Mexico.

Average Home Values

 

Median Home Value:
$146,473

Magdalena, NM HOME PRICES

Value Range
> $1,087,000 7.3
$816,001 - $1,087,000 0.0
$544,001 - $816,000 0.0
$435,001 - $544,000 2.1
$326,001 - $435,000 5.0
$218,001 - $326,000 20.1
$109,001 - $218,000 19.7
$54,001 - $109,000 31.1
$0 - $54,000 14.8

High for NM
Average for Nation

Value Relative to Nation Value Relative to State
52.526790419863 31.8965517241379

Number Of Homes And Apartments:
218

Rent & Ownership

 

Average Market Rent:
$722 / per month

Homeownership Rate

Homeownership
Owners 84.86
Renters 15.14
Vacant 56.75

Housing Market Details

 

Age of Homes

AGE OF Magdalena HOMES
2000 or Newer 2.4
1970 - 1999 35.7
1940 - 1969 15.9
1939 or Older 46.0

Types of Homes

TYPE OF Magdalena HOMES
Single-Family 76.0
Townhomes 0.0
Small Apt. Buildings 2.8
Apt. Complexes 0.0
Mobile Homes 21.2
Other 0.0

Home Size

SIZE OF Magdalena HOMES
No Bedroom 4.17
1 Bedroom 7.54
2 Bedrooms 30.75
3 Bedrooms 49.01
4 Bedrooms 8.53
5 or more bedrooms 0.00

Magdalena 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
82.73% 3.61% 8 9
* 10 is highest

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