The real estate market in Los Alamos County is undergoing a significant transformation through the third quarter of 2025. An unprecedented surge in housing inventory is giving buyers more options and increasing the time it takes for properties to sell, marking a distinct shift from the market dynamics of previous years.
While the total number of homes sold has remained stable compared to last year, key indicators such as pricing and days on market point to a cooling environment. Home prices have seen a modest decrease, while the number of available listings has more than quadrupled at times, reshaping expectations for both sellers and buyers in the region.
Key Takeaways
- Housing inventory in Los Alamos County has dramatically increased, with 50-70 properties now commonly on the market, compared to 10-15 in recent years.
- The average time to sell a home has doubled, jumping from 18.1 days in 2024 to 36.7 days in 2025.
- The average home sales price has slightly decreased to $597,783 in 2025 from $624,512 in 2024.
- Despite a general cooling, the luxury market has seen a notable increase, with sales of homes over $1 million doubling compared to the entirety of 2024.
A Market in Transition
Data from the first nine months of 2025 reveals a local housing market that is stabilizing after a period of intense activity. The total number of reported sales in Los Alamos County reached 220, nearly identical to the 221 sales recorded during the same period in 2024. This consistency in sales volume, however, masks deeper changes happening within the market.
The most significant change is a slight correction in home prices. The average sales price for a home in the county now stands at $597,783, down from $624,512 last year. Similarly, the median price, which often provides a clearer picture by reducing the impact of outlier sales, has fallen from $610,000 to $580,000.
By the Numbers: Pricing Shift
- 2025 Average Price: $597,783
- 2024 Average Price: $624,512
- 2025 Median Price: $580,000
- 2024 Median Price: $610,000
This adjustment suggests that the market is beginning to favor buyers, who now face less aggressive price growth than in previous years.
Inventory Surge Reshapes the Landscape
The biggest story for Los Alamos real estate in 2025 is the dramatic increase in available homes. For years, buyers contended with a scarcity of options, with as few as 10 to 15 properties available at any given time. That reality has been completely upended.
Throughout this year, it has become common to see between 50 and 70 active listings. This expansion of choice is having a direct impact on how quickly homes are sold. The average number of days a property stays on the market has doubled, climbing from 18.1 days in 2024 to 36.7 days in 2025. The median days on market also doubled, from 7 to 14 days.
This slowdown means that sellers can no longer expect immediate offers. Patience and strategic pricing have become essential. The data also shows an increase in properties that fail to sell; 38 listings have been terminated or have expired so far in 2025, compared to just 26 for all of 2024. This translates to roughly one in seven listings not finding a buyer under its initial contract.
What Buyers Want and What is Selling
Analysis of successful sales indicates a clear "sweet spot" in the market. Homes priced between $479,000 and $662,500 are attracting the most attention from buyers. This price range represents the middle third of the market and appears to be where demand is most concentrated.
Beyond price, buyers are prioritizing specific features. There is a strong preference for move-in ready homes that do not require significant renovations. Updated kitchens and bathrooms are consistently high on the list of desired amenities.
The Pandemic Pet Effect
A notable trend influencing buyer preferences is the rise in pet ownership. According to a report from Rover.com, nearly half of Americans (49%) got a new dog during the pandemic. This has translated directly into real estate, with fully-fenced yards becoming a critical, non-negotiable feature for a large segment of homebuyers in Los Alamos.
Properties that meet these criteria—modern interiors, functional outdoor space, and appropriate pricing—are the most likely to sell in the current market climate.
Luxury Market and Economic Factors
While the broader market is cooling, the high end is experiencing a surprising boom. In the first three quarters of 2025, there have been eight reported sales of homes priced over $1 million. This figure is already double the four million-dollar sales that occurred in all of 2024, indicating robust demand in the luxury segment.
On the economic front, a recent dip in mortgage interest rates has provided some relief to buyers. The national average for a 30-year fixed mortgage recently fell to 6.19%, a welcome change from the 7% rates that persisted for much of the last two years.
While industry experts anticipate rates may fall further, a significant drop below the 6% level is not widely expected. This new range is likely to be the baseline for buyers planning their finances into 2026.
As the year draws to a close, the Los Alamos real estate market presents a more balanced picture. Buyers have more leverage and choice than they have had in years, while sellers must adapt to a longer sales cycle and increased competition. The data points to a market that is not crashing, but rather normalizing after a period of exceptional intensity.
